CocaCola Company (The) (NYSE:KO) Shares Bought by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. increased its stake in Coca-Cola by 2.9% in Q1, owning over 4.5 million shares valued at approximately $325 million.
• Wall Street analysts are optimistic about Coca-Cola's performance, with a consensus rating of "Buy" and target prices ranging from $76 to $83.
• Coca-Cola announced a quarterly dividend of $0.51 per share, offering a 3.00% annual yield to shareholders.

Federated Hermes Inc. boosted its stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 2.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,545,044 shares of the company's stock after buying an additional 126,455 shares during the quarter. CocaCola makes up 0.7% of Federated Hermes Inc.'s portfolio, making the stock its 26th largest position. Federated Hermes Inc. owned 0.11% of CocaCola worth $325,516,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KO. Northern Trust Corp grew its position in CocaCola by 9.5% during the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company's stock worth $2,727,131,000 after purchasing an additional 3,811,756 shares during the last quarter. Franklin Resources Inc. lifted its stake in CocaCola by 21.9% during the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company's stock valued at $2,123,301,000 after acquiring an additional 6,118,819 shares during the period. Capital International Investors lifted its stake in CocaCola by 96.0% during the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company's stock valued at $1,553,337,000 after acquiring an additional 12,222,885 shares during the period. Invesco Ltd. lifted its stake in CocaCola by 18.2% during the 4th quarter. Invesco Ltd. now owns 24,566,933 shares of the company's stock valued at $1,529,537,000 after acquiring an additional 3,791,300 shares during the period. Finally, Fayez Sarofim & Co lifted its stake in CocaCola by 6.7% during the 4th quarter. Fayez Sarofim & Co now owns 18,408,210 shares of the company's stock valued at $1,148,609,000 after acquiring an additional 1,155,538 shares during the period. Institutional investors own 70.26% of the company's stock.

Insider Buying and Selling

In related news, EVP Beatriz R. Perez sold 60,326 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.87, for a total value of $4,335,629.62. Following the completion of the transaction, the executive vice president owned 187,716 shares of the company's stock, valued at approximately $13,491,148.92. The trade was a 24.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James Quincey sold 266,403 shares of the business's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the transaction, the chief executive officer directly owned 275,946 shares of the company's stock, valued at $19,884,668.76. The trade was a 49.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 415,387 shares of company stock worth $29,923,985 in the last three months. Corporate insiders own 0.97% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on KO shares. BNP Paribas reiterated an "outperform" rating and issued a $83.00 price objective on shares of CocaCola in a research report on Monday, July 21st. Morgan Stanley reaffirmed an "overweight" rating and set a $81.00 target price on shares of CocaCola in a report on Monday, June 9th. Cfra Research raised shares of CocaCola to a "strong-buy" rating in a report on Tuesday, April 15th. Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the stock an "outperform" rating in a report on Monday, July 21st. Finally, UBS Group dropped their target price on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, CocaCola currently has a consensus rating of "Buy" and a consensus target price of $77.21.

CocaCola Stock Performance

NYSE:KO traded up $0.94 during midday trading on Friday, reaching $68.83. The stock had a trading volume of 9,697,806 shares, compared to its average volume of 17,234,766. The firm has a fifty day simple moving average of $70.39 and a two-hundred day simple moving average of $69.54. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The stock has a market cap of $296.24 billion, a P/E ratio of 24.41, a P/E/G ratio of 3.58 and a beta of 0.45.

CocaCola (NYSE:KO - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.83 by $0.04. The company had revenue of $12.50 billion for the quarter, compared to analyst estimates of $12.55 billion. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The business's revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.84 EPS. On average, equities analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be given a $0.51 dividend. The ex-dividend date is Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 3.0%. CocaCola's payout ratio is currently 72.34%.

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.