Pinnacle Investment Management Ltd Makes New Investment in CocaCola Company (The) $KO

Pinnacle Investment Management Ltd acquired a new stake in CocaCola Company (The) (NYSE:KO) during the 3rd quarter, according to its most recent 13F filing 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 69.6% of Pinnacle Investment Management Ltd’s portfolio, making the stock its largest position.

Several other institutional investors have also recently made changes to their positions in the business. Sava Infond d.o.o. raised its holdings in CocaCola by 210.8% during the 2nd quarter. Sava Infond d.o.o. now owns 5,750 shares of the company’s stock valued at $407,000 after buying an additional 3,900 shares during the period. Vanguard Group Inc. raised its stake in shares of CocaCola by 1.7% in the second quarter. Vanguard Group Inc. now owns 367,441,971 shares of the company’s stock valued at $25,996,519,000 after acquiring an additional 6,241,163 shares during the period. Aberdeen Group plc boosted its stake in shares of CocaCola by 5.0% during the 2nd quarter. Aberdeen Group plc now owns 4,557,668 shares of the company’s stock worth $322,455,000 after purchasing an additional 216,752 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in CocaCola during the 2nd quarter valued at about $22,443,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in CocaCola by 1.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 10,408,798 shares of the company’s stock worth $690,311,000 after purchasing an additional 198,886 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

In related news, COO Henrique Braun sold 40,390 shares of the stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $70.93, for a total value of $2,864,862.70. Following the completion of the transaction, the chief operating officer directly owned 62,621 shares of the company’s stock, valued at approximately $4,441,707.53. This represents a 39.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Manuel Arroyo sold 139,689 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $70.80, for a total transaction of $9,889,981.20. Following the completion of the transaction, the executive vice president directly owned 58,067 shares in the company, valued at approximately $4,111,143.60. This represents a 70.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 211,704 shares of company stock valued at $15,005,595. 0.90% of the stock is owned by company insiders.

CocaCola Trading Up 1.3%

NYSE KO opened at $73.53 on Wednesday. The company has a market capitalization of $316.28 billion, a PE ratio of 24.35, a P/E/G ratio of 3.73 and a beta of 0.39. The company has a fifty day moving average of $70.75 and a 200 day moving average of $69.41. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00. CocaCola Company has a 1 year low of $62.28 and a 1 year high of $74.38.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Barclays restated an “overweight” rating on shares of CocaCola in a research report on Thursday, October 23rd. Bank of America boosted their price objective on shares of CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, November 7th. TD Cowen restated a “buy” rating on shares of CocaCola in a report on Wednesday, October 22nd. Wells Fargo & Company lifted their price objective on shares of CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Finally, UBS Group reiterated a “buy” rating on shares of CocaCola in a report on Friday, December 5th. One equities research analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $79.08.

About CocaCola

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.