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

Pinnacle West Asset Management Inc. raised its holdings in The Coca-Cola Company (NYSE:KO) by 1.6% during the third quarter, HoldingsChannel reports. The firm owned 11,135 shares of the company’s stock after acquiring 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 reporting period.

Other large investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in Coca-Cola by 21.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after purchasing an additional 8,733,326 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Coca-Cola by 30.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock worth $776,924,000 after purchasing an additional 2,964,850 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in Coca-Cola during the 2nd quarter worth $188,448,000. M&G Plc bought a new position in Coca-Cola during the 1st quarter worth $157,087,000. Finally, Raymond James & Associates raised its position in Coca-Cola by 42.6% during the 2nd quarter. Raymond James & Associates now owns 6,245,331 shares of the company’s stock worth $397,515,000 after purchasing an additional 1,866,348 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,968,095. 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. In other news, CEO James Quincey sold 42,397 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $70.02, for a total value of $2,968,637.94. Following the transaction, the chief executive officer now owns 442,546 shares in the company, valued at $30,987,070.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 356,792 shares of company stock worth $24,728,364. Insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KO. Morgan Stanley lowered their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday. Barclays lifted their price objective 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 lifted their price objective on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Bank of America lifted their price objective on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. lifted their price objective on Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $71.87.

Coca-Cola Stock Down 1.4 %

Shares of KO traded down $0.98 during trading hours on Thursday, hitting $67.03. The stock had a trading volume of 6,229,233 shares, compared to its average volume of 13,208,321. 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 firm has a 50 day simple moving average of $70.74 and a 200-day simple 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 1-year low of $55.10 and a 1-year high of $73.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.74 EPS. Sell-side analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 yield of 2.89%. Coca-Cola’s dividend payout ratio (DPR) is currently 77.60%.

Coca-Cola Company 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.