Pinnacle Associates Ltd. Has $13.42 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

Pinnacle Associates Ltd. raised its position in shares of The Coca-Cola Company (NYSE:KO) by 2.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 186,704 shares of the company’s stock after purchasing an additional 3,625 shares during the period. Pinnacle Associates Ltd.’s holdings in Coca-Cola were worth $13,417,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of KO. New Millennium Group LLC acquired a new stake in Coca-Cola in the second quarter valued at about $26,000. Quarry LP bought a new position in shares of Coca-Cola in the second quarter worth about $27,000. ESL Trust Services LLC acquired a new stake in shares of Coca-Cola in the 1st quarter valued at approximately $28,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Coca-Cola in the 1st quarter valued at approximately $28,000. Finally, DiNuzzo Private Wealth Inc. grew its holdings in shares of Coca-Cola by 65.0% during the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after purchasing an additional 206 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Trading Up 1.4 %

Shares of NYSE:KO traded up $0.89 during mid-day trading on Wednesday, hitting $66.45. The company had a trading volume of 4,296,616 shares, compared to its average volume of 13,212,482. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The Coca-Cola Company has a one year low of $56.06 and a one year high of $73.53. The firm has a fifty day moving average price of $70.54 and a 200 day moving average price of $66.22. The company has a market capitalization of $286.26 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 3.91 and a beta of 0.60.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.03. The firm had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 earnings per share. As a group, research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 2.92%. Coca-Cola’s dividend payout ratio is 77.60%.

Insider Transactions at Coca-Cola

In other Coca-Cola news, EVP Lisa Chang sold 58,122 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the completion of the sale, the executive vice president now owns 74,067 shares in the company, valued at approximately $5,074,330.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Coca-Cola news, EVP Lisa Chang sold 58,122 shares of Coca-Cola stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the completion of the transaction, the executive vice president now owns 74,067 shares in the company, valued at approximately $5,074,330.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Quincey sold 102,533 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 319,005 shares of company stock valued at $22,198,147 over the last ninety days. 0.97% of the stock is owned by company insiders.

Analyst Ratings Changes

KO has been the topic of a number of research reports. Morgan Stanley decreased their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Royal Bank of Canada increased their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Wells Fargo & Company boosted their price target on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Citigroup raised their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $71.80.

About Coca-Cola

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.