Federated Hermes Inc. raised its stake in shares of Coca-Cola Co (The) (NYSE:KO) by 15.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,906,253 shares of the company’s stock after buying an additional 1,224,072 shares during the quarter. Coca-Cola comprises 1.2% of Federated Hermes Inc.’s portfolio, making the stock its 13th largest holding. Federated Hermes Inc. owned approximately 0.21% of Coca-Cola worth $394,102,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. PrairieView Partners LLC bought a new stake in shares of Coca-Cola during the 1st quarter valued at about $27,000. Pearl River Capital LLC bought a new stake in Coca-Cola in the 1st quarter worth approximately $30,000. Stonebridge Financial Planning Group LLC bought a new stake in Coca-Cola in the 4th quarter worth approximately $38,000. HighMark Wealth Management LLC bought a new stake in Coca-Cola in the 4th quarter worth approximately $44,000. Finally, Wealth Alliance bought a new stake in Coca-Cola in the 4th quarter worth approximately $90,000. 67.48% of the stock is owned by institutional investors and hedge funds.

In related news, SVP Lisa Chang bought 1,650 shares of the business’s stock in a transaction dated Monday, April 27th. The shares were purchased at an average cost of $46.74 per share, with a total value of $77,121.00. Following the completion of the purchase, the senior vice president now owns 5,826 shares in the company, valued at approximately $272,307.24. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.01% of the company’s stock.

KO has been the subject of a number of recent research reports. JPMorgan Chase & Co. upgraded Coca-Cola from a “neutral” rating to an “overweight” rating and set a $44.00 target price for the company in a research report on Monday, March 23rd. Citigroup dropped their target price on Coca-Cola from $63.00 to $51.00 and set a “neutral” rating for the company in a research report on Wednesday, April 22nd. Jefferies Financial Group lowered their price objective on Coca-Cola from $48.00 to $47.00 and set a “hold” rating for the company in a research report on Wednesday, April 22nd. Barclays reiterated a “buy” rating and issued a $50.00 price objective on shares of Coca-Cola in a research report on Thursday, April 23rd. Finally, Goldman Sachs Group initiated coverage on Coca-Cola in a research report on Wednesday, April 1st. They issued a “neutral” rating and a $46.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $54.59.

KO stock traded up $1.09 during midday trading on Wednesday, hitting $47.99. The stock had a trading volume of 10,064,029 shares, compared to its average volume of 18,148,404. The firm has a market cap of $201.82 billion, a price-to-earnings ratio of 20.71, a price-to-earnings-growth ratio of 5.35 and a beta of 0.55. The business has a 50-day moving average of $45.88 and a two-hundred day moving average of $51.62. Coca-Cola Co has a 52-week low of $36.27 and a 52-week high of $60.13. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.87 and a quick ratio of 0.76.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, April 21st. The company reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.07. The company had revenue of $8.60 billion for the quarter, compared to analysts’ expectations of $8.32 billion. Coca-Cola had a return on equity of 45.26% and a net margin of 26.95%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.48 earnings per share. Research analysts predict that Coca-Cola Co will post 1.83 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be paid a $0.41 dividend. The ex-dividend date is Friday, June 12th. This represents a $1.64 annualized dividend and a yield of 3.42%. Coca-Cola’s payout ratio is 77.73%.

Coca-Cola Company Profile

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant-based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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