Hancock Whitney Corp Increases Stock Holdings in The Coca-Cola Company (NYSE:KO)

Hancock Whitney Corp boosted its stake in The Coca-Cola Company (NYSE:KO) by 8.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,100 shares of the company’s stock after acquiring an additional 3,791 shares during the period. Hancock Whitney Corp’s holdings in Coca-Cola were worth $2,932,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in KO. Norges Bank purchased a new stake in Coca-Cola in the fourth quarter worth about $3,402,151,000. Capital International Investors raised its position in shares of Coca-Cola by 96.0% in the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock worth $1,553,337,000 after acquiring an additional 12,222,885 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Coca-Cola by 18.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock worth $4,617,400,000 after acquiring an additional 11,569,920 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Coca-Cola during the fourth quarter valued at approximately $500,192,000. Finally, Franklin Resources Inc. boosted its position in shares of Coca-Cola by 21.9% during the fourth quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock valued at $2,123,301,000 after purchasing an additional 6,118,819 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on KO. Barclays reissued an “overweight” rating on shares of Coca-Cola in a research report on Thursday, March 27th. Morgan Stanley lifted their price target on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. upped their price objective on shares of Coca-Cola from $74.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday. Wells Fargo & Company lifted their target price on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and upped their price target for the stock from $69.00 to $75.00 in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $75.06.

Coca-Cola Price Performance

KO opened at $72.51 on Friday. The company’s 50-day simple moving average is $70.72 and its two-hundred day simple moving average is $66.50. The Coca-Cola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The stock has a market capitalization of $312.05 billion, a P/E ratio of 29.36, a P/E/G ratio of 3.79 and a beta of 0.45. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. As a group, analysts predict that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date was Friday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio is 82.59%.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, insider Nikolaos Koumettis sold 54,708 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total value of $3,882,079.68. Following the transaction, the insider now directly owns 246,909 shares in the company, valued at approximately $17,520,662.64. This trade represents a 18.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lisa Chang sold 13,445 shares of Coca-Cola stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total transaction of $961,317.50. Following the transaction, the executive vice president now owns 94,676 shares in the company, valued at $6,769,334. This represents a 12.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 313,423 shares of company stock valued at $22,263,071. 0.97% of the stock is owned by company insiders.

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.