First Commonwealth Financial Corp PA Invests $206,000 in The Coca-Cola Company (NYSE:KO)

First Commonwealth Financial Corp PA acquired a new stake in The Coca-Cola Company (NYSE:KO) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 2,864 shares of the company’s stock, valued at approximately $206,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KO. FMR LLC lifted its position in shares of Coca-Cola by 13.7% during the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after purchasing an additional 11,206,995 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Coca-Cola during the 3rd quarter worth about $269,382,000. Manning & Napier Advisors LLC acquired a new position in shares of Coca-Cola during the 2nd quarter worth about $188,448,000. Pathway Financial Advisers LLC increased its holdings in shares of Coca-Cola by 7,006.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock valued at $178,104,000 after acquiring an additional 2,443,612 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of Coca-Cola by 39.7% during the 3rd quarter. Fisher Asset Management LLC now owns 6,765,669 shares of the company’s stock worth $486,181,000 after acquiring an additional 1,921,241 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on KO shares. Barclays dropped their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Morgan Stanley cut their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Cfra reissued a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Finally, Wells Fargo & Company boosted their target price on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Four 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 company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.36.

Coca-Cola Trading Down 0.2 %

NYSE:KO opened at $64.43 on Thursday. The Coca-Cola Company has a 12-month low of $57.47 and a 12-month high of $73.53. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The stock’s 50 day simple moving average is $67.34 and its 200-day simple moving average is $66.57. The firm has a market cap of $277.55 billion, a P/E ratio of 26.62, a PEG ratio of 3.91 and a beta of 0.61.

Coca-Cola (NYSE:KO) last announced 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. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the previous year, the company posted $0.74 EPS. Coca-Cola’s revenue was down .8% compared to the same quarter last year. Equities analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

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

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.97% of the stock is owned by corporate insiders.

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.