Pinnacle Wealth Planning Services Inc. Decreases Holdings in The Coca-Cola Company (NYSE:KO)

Pinnacle Wealth Planning Services Inc. trimmed its holdings in shares of The Coca-Cola Company (NYSE:KO) by 16.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,126 shares of the company’s stock after selling 3,084 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Coca-Cola were worth $1,004,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Harvest Portfolios Group Inc. purchased a new stake in Coca-Cola during the 3rd quarter worth about $18,383,000. Balentine LLC lifted its holdings in Coca-Cola by 92.4% during the 3rd quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after buying an additional 13,685 shares during the last quarter. Rice Partnership LLC lifted its holdings in Coca-Cola by 7.1% during the 4th quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock worth $6,397,000 after buying an additional 6,793 shares during the last quarter. Sheaff Brock Investment Advisors LLC increased its position in shares of Coca-Cola by 104.9% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock worth $8,351,000 after purchasing an additional 59,503 shares in the last quarter. Finally, Fiduciary Alliance LLC increased its position in shares of Coca-Cola by 87.7% during the fourth quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock worth $1,132,000 after purchasing an additional 8,499 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on KO. Piper Sandler lifted their target price on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Wells Fargo & Company lifted their target price on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their target price for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Barclays lifted their target price on Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, UBS Group lifted their target price on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and a consensus price target of $74.24.

Coca-Cola Price Performance

Shares of KO opened at $70.17 on Thursday. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The stock’s 50 day moving average is $65.02 and its two-hundred day moving average is $66.55. The firm has a market capitalization of $301.78 billion, a PE ratio of 28.41, a P/E/G ratio of 3.79 and a beta of 0.61. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. Research analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date is Friday, March 14th. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s payout ratio is currently 82.59%.

Insider Buying and Selling at Coca-Cola

In other news, EVP Lisa Chang sold 13,445 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total transaction of $961,317.50. Following the sale, the executive vice president now owns 94,676 shares of the company’s stock, valued at $6,769,334. The trade was a 12.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nikolaos Koumettis sold 54,708 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total value of $3,882,079.68. Following the sale, the insider now directly owns 246,909 shares in the company, valued at $17,520,662.64. This trade represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 232,646 shares of company stock valued at $16,515,469. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Profile

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.