Pinnacle West Asset Management Inc. Has $800,000 Stake in The Coca-Cola Company (NYSE:KO)

Pinnacle West Asset Management Inc. boosted its stake in The Coca-Cola Company (NYSE:KO) by 1.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,135 shares of the company’s stock after buying an additional 175 shares during the quarter. Pinnacle West Asset Management Inc.’s holdings in Coca-Cola were worth $800,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. New Millennium Group LLC bought a new position in Coca-Cola in the 2nd quarter valued at $26,000. Quarry LP bought a new stake in shares of Coca-Cola during the second quarter worth $27,000. Redmont Wealth Advisors LLC bought a new stake in shares of Coca-Cola during the first quarter worth $28,000. ESL Trust Services LLC bought a new stake in shares of Coca-Cola during the first quarter worth $28,000. Finally, DiNuzzo Private Wealth Inc. raised its position in shares of Coca-Cola by 65.0% during the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after acquiring an additional 206 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Barclays boosted their target price on Coca-Cola from $70.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Wells Fargo & Company boosted their target price on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Royal Bank of Canada lifted their price objective on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and an average price target of $71.87.

Insider Transactions at Coca-Cola

In other news, EVP Nancy Quan sold 37,787 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $66.96, for a total transaction of $2,530,217.52. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $14,954,176.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Nancy Quan sold 37,787 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $66.96, for a total transaction of $2,530,217.52. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $14,954,176.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 356,792 shares of company stock worth $24,728,364. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

NYSE:KO traded down $0.98 on Thursday, hitting $67.03. The company’s stock had a trading volume of 6,229,233 shares, compared to its average volume of 13,208,321. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The stock has a fifty day moving average of $70.74 and a two-hundred day moving average of $65.96. The firm has a market capitalization of $288.76 billion, a P/E ratio of 26.98, a price-to-earnings-growth ratio of 3.92 and a beta of 0.60. The Coca-Cola Company has a one year low of $55.10 and a one year high of $73.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) 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 return on equity of 43.62% and a net margin of 22.92%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.74 earnings per share. Research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.89%. Coca-Cola’s dividend payout ratio (DPR) is currently 77.60%.

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.