Pin Oak Investment Advisors Inc. Lowers Position in The Coca-Cola Company (NYSE:KO)

Pin Oak Investment Advisors Inc. decreased its position in The Coca-Cola Company (NYSE:KO) by 4.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,793 shares of the company’s stock after selling 194 shares during the quarter. Pin Oak Investment Advisors Inc.’s holdings in Coca-Cola were worth $272,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Strategic Wealth Partners Ltd. increased its stake in Coca-Cola by 9.3% in the 1st quarter. Strategic Wealth Partners Ltd. now owns 4,961 shares of the company’s stock worth $303,000 after purchasing an additional 424 shares during the period. Sanibel Captiva Trust Company Inc. grew its holdings in shares of Coca-Cola by 2.6% in the first quarter. Sanibel Captiva Trust Company Inc. now owns 68,087 shares of the company’s stock worth $4,166,000 after purchasing an additional 1,707 shares during the last quarter. Swedbank AB purchased a new position in shares of Coca-Cola in the first quarter worth $102,604,000. Community Trust & Investment Co. increased its position in shares of Coca-Cola by 13.5% in the first quarter. Community Trust & Investment Co. now owns 54,470 shares of the company’s stock valued at $3,332,000 after acquiring an additional 6,458 shares during the period. Finally, Dodds Wealth LLC bought a new position in shares of Coca-Cola during the first quarter valued at about $207,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity

In other news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Shares of Coca-Cola stock opened at $64.43 on Thursday. The stock’s fifty day moving average is $67.34 and its 200 day moving average is $66.57. The Coca-Cola Company has a one year low of $57.47 and a one year high of $73.53. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The stock has a market cap of $277.55 billion, a P/E ratio of 26.62, a P/E/G ratio of 3.91 and a beta of 0.61.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 by $0.03. The firm had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the company earned $0.74 earnings per share. Sell-side analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.485 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.01%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Analysts Set New Price Targets

Several analysts recently issued reports on KO shares. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Cfra restated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Morgan Stanley reduced their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Barclays lowered their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Finally, Truist Financial lifted their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus target price of $72.36.

About Coca-Cola

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.