Manning & Napier Group LLC trimmed its holdings in The Coca-Cola Co (NYSE:KO) by 0.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,330,838 shares of the company’s stock after selling 11,740 shares during the quarter. The Coca-Cola makes up about 1.7% of Manning & Napier Group LLC’s portfolio, making the stock its 14th biggest position. Manning & Napier Group LLC’s holdings in The Coca-Cola were worth $156,082,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Mraz Amerine & Associates Inc. boosted its position in The Coca-Cola by 0.4% during the 4th quarter. Mraz Amerine & Associates Inc. now owns 47,568 shares of the company’s stock valued at $2,252,000 after acquiring an additional 208 shares in the last quarter. Cordasco Financial Network boosted its position in The Coca-Cola by 26.1% during the 4th quarter. Cordasco Financial Network now owns 1,034 shares of the company’s stock valued at $49,000 after acquiring an additional 214 shares in the last quarter. Windsor Group LTD boosted its position in The Coca-Cola by 1.7% during the 4th quarter. Windsor Group LTD now owns 13,672 shares of the company’s stock valued at $647,000 after acquiring an additional 222 shares in the last quarter. Chessman Wealth Strategies RIA boosted its position in The Coca-Cola by 1.3% during the 1st quarter. Chessman Wealth Strategies RIA now owns 17,483 shares of the company’s stock valued at $819,000 after acquiring an additional 230 shares in the last quarter. Finally, Larson Financial Group LLC boosted its position in The Coca-Cola by 15.1% during the 1st quarter. Larson Financial Group LLC now owns 1,803 shares of the company’s stock valued at $84,000 after acquiring an additional 236 shares in the last quarter. Hedge funds and other institutional investors own 67.99% of the company’s stock.
KO has been the topic of several recent research reports. Royal Bank of Canada reaffirmed a “buy” rating and set a $56.00 target price on shares of The Coca-Cola in a research report on Wednesday, February 13th. Deutsche Bank reaffirmed a “buy” rating and set a $53.00 target price on shares of The Coca-Cola in a research report on Thursday, April 18th. Zacks Investment Research raised The Coca-Cola from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Friday, April 26th. ValuEngine raised The Coca-Cola from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Finally, Morgan Stanley increased their target price on The Coca-Cola from $48.00 to $52.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 24th. Fourteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $50.95.
Shares of KO opened at $49.18 on Thursday. The Coca-Cola Co has a 12 month low of $41.54 and a 12 month high of $50.84. The company has a quick ratio of 0.91, a current ratio of 1.02 and a debt-to-equity ratio of 1.48. The firm has a market cap of $204.98 billion, a PE ratio of 23.64, a price-to-earnings-growth ratio of 3.23 and a beta of 0.53.
The Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.46 by $0.02. The Coca-Cola had a return on equity of 45.12% and a net margin of 20.91%. The firm had revenue of $8 billion during the quarter, compared to analyst estimates of $7.89 billion. During the same quarter in the prior year, the business posted $0.47 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. Analysts forecast that The Coca-Cola Co will post 2.1 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.60 annualized dividend and a dividend yield of 3.25%. The Coca-Cola’s dividend payout ratio is presently 76.92%.
In related news, SVP Nancy Quan sold 23,320 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $47.95, for a total value of $1,118,194.00. Following the completion of the transaction, the senior vice president now owns 165,049 shares in the company, valued at approximately $7,914,099.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Francisco Crespo sold 16,426 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $49.00, for a total value of $804,874.00. Following the completion of the transaction, the insider now owns 77,109 shares of the company’s stock, valued at approximately $3,778,341. The disclosure for this sale can be found here. Corporate insiders own 1.33% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This piece was first posted by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are viewing this piece on another domain, it was illegally stolen and reposted in violation of US & international copyright legislation. The original version of this piece can be accessed at https://www.thelincolnianonline.com/2019/05/16/the-coca-cola-co-ko-stake-decreased-by-manning-napier-group-llc.html.
The Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plantbased beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Coca-Cola Co (NYSE:KO).
Receive News & Ratings for The Coca-Cola Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Coca-Cola and related companies with MarketBeat.com's FREE daily email newsletter.