The Manufacturers Life Insurance Company Has $201.98 Million Position in The Coca-Cola Company (NYSE:KO)

The Manufacturers Life Insurance Company raised its position in The Coca-Cola Company (NYSE:KO - Free Report) by 17.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,810,705 shares of the company's stock after buying an additional 417,353 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.07% of Coca-Cola worth $201,977,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of Montreal Can boosted its stake in Coca-Cola by 3.7% during the 3rd quarter. Bank of Montreal Can now owns 8,055,109 shares of the company's stock valued at $578,276,000 after acquiring an additional 289,825 shares during the last quarter. Capital Square LLC increased its holdings in Coca-Cola by 4.6% in the third quarter. Capital Square LLC now owns 8,961 shares of the company's stock valued at $644,000 after buying an additional 395 shares during the last quarter. Horizon Kinetics Asset Management LLC raised its stake in Coca-Cola by 4.9% during the third quarter. Horizon Kinetics Asset Management LLC now owns 6,020 shares of the company's stock valued at $433,000 after buying an additional 280 shares in the last quarter. Truvestments Capital LLC lifted its holdings in Coca-Cola by 2.5% during the 3rd quarter. Truvestments Capital LLC now owns 43,708 shares of the company's stock worth $3,141,000 after buying an additional 1,084 shares during the last quarter. Finally, Brown Brothers Harriman & Co. grew its position in shares of Coca-Cola by 2.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 215,035 shares of the company's stock worth $15,452,000 after acquiring an additional 5,522 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Price Performance

NYSE:KO traded down $0.12 during trading hours on Wednesday, reaching $64.43. 13,217,768 shares of the company's stock were exchanged, compared to its average volume of 13,563,657. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The company has a market capitalization of $277.55 billion, a P/E ratio of 26.62, a price-to-earnings-growth ratio of 3.91 and a beta of 0.61. The Coca-Cola Company has a 12 month low of $57.47 and a 12 month high of $73.53. The business's 50-day simple moving average is $67.34 and its two-hundred day simple moving average is $66.57.

Coca-Cola (NYSE:KO - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business 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 firm posted $0.74 EPS. The company's quarterly revenue was down .8% on a year-over-year basis. Sell-side analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.485 per share. 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 is currently 80.17%.

Insider Activity at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the sale, the chief executive officer now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.97% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on KO shares. Cfra reiterated a "hold" rating on shares of Coca-Cola in a research note on Thursday, September 5th. Wells Fargo & Company increased their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an "overweight" rating in a research note on Monday, September 16th. Barclays decreased their target price on Coca-Cola from $74.00 to $73.00 and set an "overweight" rating for the company in a research note on Friday, October 25th. Morgan Stanley cut their price target on Coca-Cola from $78.00 to $76.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. Finally, Hsbc Global Res upgraded Coca-Cola to a "strong-buy" rating in a research note on Friday, September 27th. 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 data from MarketBeat, Coca-Cola presently has a consensus rating of "Moderate Buy" and an average target price of $72.36.

Coca-Cola 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.