Federated Hermes Inc. Reduces Holdings in CocaCola Company (The) $KO

Federated Hermes Inc. lowered its stake in shares of CocaCola Company (The) (NYSE:KO) by 3.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,695,451 shares of the company’s stock after selling 92,118 shares during the quarter. Federated Hermes Inc. owned about 0.06% of CocaCola worth $178,762,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of KO. Caitong International Asset Management Co. Ltd lifted its stake in shares of CocaCola by 5,142.9% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock valued at $26,000 after purchasing an additional 360 shares during the period. Headlands Technologies LLC purchased a new stake in CocaCola in the second quarter worth $26,000. Marquette Asset Management LLC bought a new position in CocaCola in the third quarter worth $27,000. GFG Capital LLC purchased a new position in CocaCola during the second quarter valued at $34,000. Finally, MMA Asset Management LLC bought a new stake in shares of CocaCola during the 2nd quarter valued at $34,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

CocaCola Trading Up 1.3%

Shares of NYSE KO opened at $73.53 on Wednesday. The firm’s 50 day moving average price is $70.75 and its 200-day moving average price is $69.41. CocaCola Company has a 52-week low of $62.28 and a 52-week high of $74.38. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21. The company has a market cap of $316.28 billion, a PE ratio of 24.35, a P/E/G ratio of 3.73 and a beta of 0.39.

Insider Buying and Selling at CocaCola

In other CocaCola news, COO Henrique Braun sold 40,390 shares of CocaCola stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $70.93, for a total value of $2,864,862.70. Following the completion of the sale, the chief operating officer owned 62,621 shares of the company’s stock, valued at approximately $4,441,707.53. This trade represents a 39.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Manuel Arroyo sold 139,689 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $70.80, for a total value of $9,889,981.20. Following the transaction, the executive vice president directly owned 58,067 shares in the company, valued at approximately $4,111,143.60. The trade was a 70.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 211,704 shares of company stock worth $15,005,595. Insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. UBS Group reiterated a “buy” rating on shares of CocaCola in a research note on Friday, December 5th. Barclays restated an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. Piper Sandler raised their target price on shares of CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Evercore ISI reissued an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of CocaCola in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company. According to MarketBeat.com, CocaCola presently has a consensus rating of “Buy” and a consensus target price of $79.08.

CocaCola Profile

The Coca?Cola Company (NYSE: KO) is a global beverage manufacturer, marketer and distributor best known for its flagship Coca?Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready?to?drink teas and coffees, and other still beverages, marketed under both global and regional brand names.

Coca?Cola’s brand portfolio includes widely recognized names such as Coca?Cola, Diet Coke, Coca?Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.