Manning & Napier Advisors LLC Has $180.63 Million Stock Position in CocaCola Company (The) (NYSE:KO)

Manning & Napier Advisors LLC trimmed its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 8.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,521,984 shares of the company's stock after selling 231,936 shares during the period. CocaCola makes up 2.2% of Manning & Napier Advisors LLC's portfolio, making the stock its 12th biggest position. Manning & Napier Advisors LLC owned 0.06% of CocaCola worth $180,625,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Peachtree Investment Partners LLC raised its holdings in shares of CocaCola by 1.4% during the fourth quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company's stock worth $697,000 after purchasing an additional 157 shares during the period. Braun Bostich & Associates Inc. raised its holdings in shares of CocaCola by 3.8% during the first quarter. Braun Bostich & Associates Inc. now owns 4,308 shares of the company's stock worth $309,000 after purchasing an additional 159 shares during the period. Fort Sheridan Advisors LLC raised its holdings in shares of CocaCola by 3.3% during the fourth quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company's stock worth $311,000 after purchasing an additional 161 shares during the period. Excalibur Management Corp raised its holdings in shares of CocaCola by 0.6% during the fourth quarter. Excalibur Management Corp now owns 29,412 shares of the company's stock worth $1,831,000 after purchasing an additional 161 shares during the period. Finally, Tradition Wealth Management LLC increased its holdings in shares of CocaCola by 3.0% in the 4th quarter. Tradition Wealth Management LLC now owns 5,737 shares of the company's stock worth $357,000 after acquiring an additional 167 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Beatriz R. Perez sold 60,326 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the completion of the transaction, the executive vice president now owns 187,716 shares in the company, valued at approximately $13,491,148.92. This trade represents a 24.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO John Murphy sold 88,658 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the transaction, the chief financial officer now owns 205,511 shares of the company's stock, valued at approximately $14,815,287.99. This trade represents a 30.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 415,387 shares of company stock worth $29,923,985. Corporate insiders own 0.90% of the company's stock.

CocaCola Price Performance

KO traded up $0.93 on Monday, reaching $69.77. The company had a trading volume of 20,360,923 shares, compared to its average volume of 16,013,380. The company has a fifty day moving average of $71.50 and a 200-day moving average of $68.11. The company has a market capitalization of $300.31 billion, a P/E ratio of 27.91, a PEG ratio of 3.61 and a beta of 0.46. The company has a current ratio of 1.10, a quick ratio of 0.89 and a debt-to-equity ratio of 1.57. CocaCola Company has a one year low of $60.62 and a one year high of $74.38.

CocaCola (NYSE:KO - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.02. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The firm had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. During the same quarter in the prior year, the firm posted $0.72 EPS. CocaCola's revenue was down .7% compared to the same quarter last year. As a group, equities research analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.92%. CocaCola's dividend payout ratio (DPR) is 81.60%.

Wall Street Analysts Forecast Growth

KO has been the topic of a number of analyst reports. UBS Group increased their price objective on shares of CocaCola from $84.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Barclays reaffirmed an "overweight" rating on shares of CocaCola in a report on Thursday, March 27th. Piper Sandler increased their price objective on shares of CocaCola from $73.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Morgan Stanley reaffirmed an "overweight" rating and issued a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. Finally, Royal Bank Of Canada increased their price objective on shares of CocaCola from $73.00 to $76.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $76.00.

CocaCola Company Profile

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.