The Coca-Cola Company (NYSE:KO) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. lifted its stake in The Coca-Cola Company (NYSE:KO) by 18.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,418,589 shares of the company’s stock after acquiring an additional 675,135 shares during the period. Federated Hermes Inc. owned 0.10% of Coca-Cola worth $275,101,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Howard Capital Management Group LLC lifted its holdings in shares of Coca-Cola by 0.5% in the third quarter. Howard Capital Management Group LLC now owns 399,607 shares of the company’s stock valued at $28,716,000 after buying an additional 2,069 shares during the period. Morse Asset Management Inc lifted its holdings in Coca-Cola by 25.0% in the 3rd quarter. Morse Asset Management Inc now owns 17,500 shares of the company’s stock valued at $1,258,000 after acquiring an additional 3,500 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its position in shares of Coca-Cola by 135.6% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 154,488 shares of the company’s stock valued at $11,102,000 after purchasing an additional 88,929 shares in the last quarter. Insigneo Advisory Services LLC grew its stake in shares of Coca-Cola by 12.2% in the 3rd quarter. Insigneo Advisory Services LLC now owns 48,050 shares of the company’s stock worth $3,453,000 after purchasing an additional 5,223 shares during the last quarter. Finally, EP Wealth Advisors LLC raised its holdings in shares of Coca-Cola by 22.9% in the 3rd quarter. EP Wealth Advisors LLC now owns 120,702 shares of the company’s stock worth $8,674,000 after purchasing an additional 22,515 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Bruno Pietracci sold 19,058 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $70.56, for a total value of $1,344,732.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Henrique Braun sold 25,277 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total value of $1,806,547.19. Following the transaction, the chief operating officer now owns 52,466 shares in the company, valued at approximately $3,749,745.02. This trade represents a 32.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 313,423 shares of company stock valued at $22,263,071 over the last ninety days. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Trading Down 4.5 %

Coca-Cola stock opened at $69.87 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.95. The company’s fifty day simple moving average is $68.72 and its 200-day simple moving average is $66.42. The stock has a market cap of $300.67 billion, a P/E ratio of 28.29, a P/E/G ratio of 3.79 and a beta of 0.45.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. As a group, sell-side analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a $0.51 dividend. The ex-dividend date was Friday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 dividend on an annualized basis and a yield of 2.92%. Coca-Cola’s payout ratio is 82.59%.

Analyst Ratings Changes

KO has been the topic of several recent research reports. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the stock from $69.00 to $75.00 in a research report on Thursday, January 30th. JPMorgan Chase & Co. decreased their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Piper Sandler upped their target price on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Morgan Stanley lifted their price target on Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Finally, DZ Bank raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Thursday, February 13th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $74.24.

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.