Pinnacle Investment Management Ltd Invests $20.09 Million in CocaCola Company (The) $KO

Pinnacle Investment Management Ltd acquired a new stake in CocaCola Company (The) (NYSE:KO) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 302,905 shares of the company’s stock, valued at approximately $20,089,000. CocaCola makes up about 69.6% of Pinnacle Investment Management Ltd’s holdings, making the stock its biggest position.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Requisite Capital Management LLC grew its holdings in shares of CocaCola by 2.8% in the second quarter. Requisite Capital Management LLC now owns 5,285 shares of the company’s stock valued at $377,000 after purchasing an additional 142 shares in the last quarter. Paulson Wealth Management Inc. grew its stake in shares of CocaCola by 2.2% during the second quarter. Paulson Wealth Management Inc. now owns 6,773 shares of the company’s stock worth $479,000 after purchasing an additional 149 shares in the last quarter. Summitry LLC increased its holdings in CocaCola by 1.9% in the second quarter. Summitry LLC now owns 7,865 shares of the company’s stock valued at $556,000 after buying an additional 149 shares during the last quarter. Ashton Thomas Securities LLC raised its stake in CocaCola by 1.2% in the third quarter. Ashton Thomas Securities LLC now owns 12,656 shares of the company’s stock valued at $835,000 after buying an additional 149 shares in the last quarter. Finally, Cetera Trust Company N.A lifted its holdings in CocaCola by 0.5% during the 2nd quarter. Cetera Trust Company N.A now owns 30,371 shares of the company’s stock worth $2,149,000 after buying an additional 150 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

CocaCola Stock Performance

Shares of KO opened at $73.53 on Wednesday. CocaCola Company has a 12-month low of $62.28 and a 12-month high of $74.38. The company has a current ratio of 1.21, a quick ratio of 1.00 and a debt-to-equity ratio of 1.30. The company has a 50-day moving average of $70.75 and a two-hundred day moving average of $69.41. The stock has a market cap of $316.28 billion, a P/E ratio of 24.35, a PEG ratio of 3.73 and a beta of 0.39.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Bank of America raised their target price on CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a report on Thursday, January 22nd. Evercore ISI reaffirmed an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. TD Cowen reaffirmed a “buy” rating on shares of CocaCola in a report on Wednesday, October 22nd. Finally, Wells Fargo & Company raised their price target on CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company’s stock. According to MarketBeat, CocaCola presently has an average rating of “Buy” and an average price target of $79.08.

Insider Buying and Selling at CocaCola

In other news, EVP Nancy Quan sold 31,625 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $71.17, for a total transaction of $2,250,751.25. Following the sale, the executive vice president owned 223,330 shares in the company, valued at $15,894,396.10. This trade represents a 12.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Henrique Braun sold 40,390 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $70.93, for a total transaction of $2,864,862.70. Following the completion of the sale, the chief operating officer owned 62,621 shares of the company’s stock, valued at approximately $4,441,707.53. The trade was a 39.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 211,704 shares of company stock worth $15,005,595. Insiders own 0.90% of the company’s stock.

CocaCola Company Profile

The Coca‑Cola Company (NYSE: KO) is a global beverage manufacturer, marketer and distributor best known for its flagship Coca‑Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready‑to‑drink teas and coffees, and other still beverages, marketed under both global and regional brand names.

Coca‑Cola’s brand portfolio includes widely recognized names such as Coca‑Cola, Diet Coke, Coca‑Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.