Itau Unibanco Holding S.A. Buys 10,488 Shares of The Coca-Cola Company (NYSE:KO)

Itau Unibanco Holding S.A. raised its stake in shares of The Coca-Cola Company (NYSE:KO) by 47.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,672 shares of the company’s stock after acquiring an additional 10,488 shares during the period. Itau Unibanco Holding S.A.’s holdings in Coca-Cola were worth $2,288,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Tidemark LLC purchased a new position in Coca-Cola during the fourth quarter worth about $26,000. New Millennium Group LLC bought a new position in shares of Coca-Cola during the 2nd quarter worth approximately $26,000. Redmont Wealth Advisors LLC purchased a new position in shares of Coca-Cola in the 1st quarter worth approximately $28,000. ESL Trust Services LLC bought a new position in shares of Coca-Cola in the first quarter valued at approximately $28,000. Finally, DiNuzzo Private Wealth Inc. increased its position in shares of Coca-Cola by 65.0% during the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after acquiring an additional 206 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Trading Up 1.4 %

Shares of KO stock opened at $71.64 on Friday. The stock has a market capitalization of $308.62 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 3.93 and a beta of 0.60. The company’s fifty day simple moving average is $69.13 and its two-hundred day simple moving average is $64.34. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $73.53. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. During the same period in the previous year, the company posted $0.78 EPS. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a $0.485 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.71%. Coca-Cola’s dividend payout ratio (DPR) is currently 77.60%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on KO. Royal Bank of Canada boosted their price objective on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. BNP Paribas assumed coverage on shares of Coca-Cola in a report on Monday, June 24th. They issued an “outperform” rating and a $72.00 price target on the stock. Truist Financial raised their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Barclays boosted their target price on shares of Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, Cfra restated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $71.07.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nancy Quan sold 19,304 shares of Coca-Cola stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total value of $1,253,987.84. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $14,507,516.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 974,715 shares of company stock valued at $579,704,927. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Company 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.