Federated Hermes Inc. Buys 473,737 Shares of The Coca-Cola Company (NYSE:KO)

Federated Hermes Inc. raised its holdings in The Coca-Cola Company (NYSE:KO) by 12.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,159,160 shares of the company’s stock after purchasing an additional 473,737 shares during the quarter. Federated Hermes Inc. owned approximately 0.10% of Coca-Cola worth $245,099,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Insigneo Advisory Services LLC raised its stake in Coca-Cola by 12.2% during the 3rd quarter. Insigneo Advisory Services LLC now owns 41,683 shares of the company’s stock worth $2,354,000 after buying an additional 4,527 shares during the period. HF Advisory Group LLC grew its stake in Coca-Cola by 7.6% in the 3rd quarter. HF Advisory Group LLC now owns 6,770 shares of the company’s stock valued at $379,000 after buying an additional 476 shares during the last quarter. Wahed Invest LLC raised its position in shares of Coca-Cola by 10.3% in the third quarter. Wahed Invest LLC now owns 61,355 shares of the company’s stock valued at $3,435,000 after buying an additional 5,707 shares in the last quarter. Cohen Lawrence B lifted its holdings in shares of Coca-Cola by 2.8% during the 3rd quarter. Cohen Lawrence B now owns 40,872 shares of the company’s stock worth $2,288,000 after acquiring an additional 1,111 shares during the period. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO raised its stake in Coca-Cola by 3.2% during the fourth quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 46,470 shares of the company’s stock worth $2,738,000 after acquiring an additional 1,455 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Stock Up 0.5 %

Shares of NYSE:KO traded up $0.28 on Thursday, hitting $58.79. 3,459,697 shares of the company traded hands, compared to its average volume of 13,674,998. The company has a market cap of $253.45 billion, a PE ratio of 23.70, a PEG ratio of 3.29 and a beta of 0.59. The stock has a 50 day simple moving average of $59.94 and a 200-day simple moving average of $58.52. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $64.99. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.29.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, February 13th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The business had revenue of $10.80 billion during the quarter, compared to analyst estimates of $10.68 billion. During the same quarter last year, the company earned $0.45 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, research analysts expect that The Coca-Cola Company will post 2.81 earnings per share for the current year.

Coca-Cola Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.30%. The ex-dividend date was Thursday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s payout ratio is 78.23%.

Insiders Place Their Bets

In other Coca-Cola news, EVP Beatriz R. Perez sold 52,300 shares of Coca-Cola stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total value of $3,138,000.00. Following the sale, the executive vice president now owns 143,383 shares of the company’s stock, valued at approximately $8,602,980. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Beatriz R. Perez sold 52,300 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $60.00, for a total value of $3,138,000.00. Following the completion of the sale, the executive vice president now owns 143,383 shares in the company, valued at approximately $8,602,980. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bruno Pietracci sold 18,551 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $59.41, for a total value of $1,102,114.91. The disclosure for this sale can be found here. Insiders have sold a total of 375,407 shares of company stock worth $22,795,742 in the last 90 days. 0.97% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. JPMorgan Chase & Co. lifted their target price on Coca-Cola from $64.00 to $66.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Barclays increased their price target on Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Finally, Citigroup upped their target price on shares of Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $67.18.

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.