Federated Hermes Inc. Sells 92,118 Shares of CocaCola Company (The) $KO

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

Several other hedge funds and other institutional investors have also recently modified their holdings of KO. Caitong International Asset Management Co. Ltd increased its position in CocaCola by 5,142.9% during the second quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock valued at $26,000 after acquiring an additional 360 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of CocaCola during the 2nd quarter valued at about $26,000. Marquette Asset Management LLC purchased a new stake in shares of CocaCola during the 3rd quarter valued at about $27,000. MMA Asset Management LLC purchased a new stake in shares of CocaCola during the 2nd quarter valued at about $34,000. Finally, GFG Capital LLC bought a new position in shares of CocaCola in the 2nd quarter worth approximately $34,000. 70.26% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Manuel Arroyo sold 139,689 shares of CocaCola stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $70.80, for a total transaction of $9,889,981.20. Following the sale, the executive vice president owned 58,067 shares of the company’s stock, valued at approximately $4,111,143.60. This trade represents a 70.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nancy Quan sold 31,625 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $71.17, for a total value of $2,250,751.25. Following the completion of the transaction, the executive vice president owned 223,330 shares of the company’s stock, valued at $15,894,396.10. The trade was a 12.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 211,704 shares of company stock worth $15,005,595. 0.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. TD Cowen reaffirmed a “buy” rating on shares of CocaCola in a report on Wednesday, October 22nd. Piper Sandler boosted their price objective on shares of CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. Bank of America boosted their price target on CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a report on Friday, November 7th. Finally, UBS Group reaffirmed a “buy” rating on shares of CocaCola in a research note on Friday, December 5th. One research analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $79.08.

CocaCola Trading Up 1.3%

Shares of KO stock opened at $73.53 on Wednesday. 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 stock has a fifty day simple moving average of $70.75 and a two-hundred day simple moving average of $69.41. The firm has a market capitalization of $316.28 billion, a PE ratio of 24.35, a PEG ratio of 3.73 and a beta of 0.39. CocaCola Company has a 52-week low of $62.28 and a 52-week high of $74.38.

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.