German American Bancorp Inc. Increases Position in The Coca-Cola Company (NYSE:KO)

German American Bancorp Inc. grew its holdings in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 7.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 123,131 shares of the company's stock after purchasing an additional 8,815 shares during the period. Coca-Cola makes up about 0.9% of German American Bancorp Inc.'s holdings, making the stock its 29th biggest position. German American Bancorp Inc.'s holdings in Coca-Cola were worth $8,848,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of KO. Price T Rowe Associates Inc. MD increased its stake in Coca-Cola by 21.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company's stock valued at $3,016,023,000 after purchasing an additional 8,733,326 shares in the last quarter. Legal & General Group Plc increased its position in shares of Coca-Cola by 2.9% in the second quarter. Legal & General Group Plc now owns 38,701,876 shares of the company's stock valued at $2,463,373,000 after buying an additional 1,084,475 shares in the last quarter. Truist Financial Corp increased its position in shares of Coca-Cola by 1.1% in the second quarter. Truist Financial Corp now owns 16,362,598 shares of the company's stock valued at $1,041,479,000 after buying an additional 177,241 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Coca-Cola by 1.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,793,323 shares of the company's stock worth $847,468,000 after buying an additional 222,028 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of Coca-Cola by 15.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 10,433,875 shares of the company's stock worth $638,344,000 after buying an additional 1,417,930 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Trading Up 1.2 %

NYSE:KO traded up $0.77 during trading hours on Thursday, reaching $63.76. 16,511,545 shares of the company were exchanged, compared to its average volume of 13,428,176. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The firm has a market cap of $274.67 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 3.80 and a beta of 0.61. The Coca-Cola Company has a 52-week low of $57.47 and a 52-week high of $73.53. The stock has a 50 day simple moving average of $68.09 and a 200 day simple moving average of $66.52.

Coca-Cola (NYSE:KO - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. The business had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business's quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the company posted $0.74 EPS. As a group, analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.04%. Coca-Cola's payout ratio is 80.17%.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 42,397 shares of the firm's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $70.02, for a total value of $2,968,637.94. Following the transaction, the chief executive officer now directly owns 442,546 shares of the company's stock, valued at $30,987,070.92. This trade represents a 8.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of the firm's stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. This trade represents a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 160,881 shares of company stock valued at $10,693,244 over the last ninety days. Corporate insiders own 0.97% of the company's stock.

Analysts Set New Price Targets

KO has been the subject of a number of research reports. Truist Financial lifted their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. Cfra reaffirmed a "hold" rating on shares of Coca-Cola in a research note on Thursday, September 5th. TD Cowen raised their price target on Coca-Cola from $65.00 to $70.00 and gave the stock a "hold" rating in a research report on Thursday, July 25th. Hsbc Global Res upgraded Coca-Cola to a "strong-buy" rating in a research report on Friday, September 27th. Finally, Citigroup increased their price objective on Coca-Cola from $72.00 to $75.00 and gave the company a "buy" rating in a research note on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $72.36.

About Coca-Cola

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.