Itau Unibanco Holding S.A. Reduces Holdings in CocaCola Company (The) $KO

Key Points

• Itau Unibanco Holding S.A. significantly reduced its stake in CocaCola by 99.2%, selling 673,513 shares and ending the period with just 5,481 shares, valued at approximately $393,000.
• Other institutional investors, including Nuveen LLC and Wellington Management Group, have either increased or established major positions in CocaCola, showcasing active investment interest in the company.
• CocaCola recently announced a quarterly dividend of $0.51 per share, representing a 3.0% yield, with an annualized total of $2.04.

Itau Unibanco Holding S.A. trimmed its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 99.2% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 5,481 shares of the company's stock after selling 673,513 shares during the period. Itau Unibanco Holding S.A.'s holdings in CocaCola were worth $393,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new stake in shares of CocaCola during the 1st quarter worth about $1,508,657,000. Wellington Management Group LLP lifted its holdings in shares of CocaCola by 52.7% in the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company's stock worth $3,398,185,000 after acquiring an additional 16,383,870 shares during the last quarter. Boston Partners purchased a new position in shares of CocaCola during the 1st quarter worth approximately $642,183,000. GAMMA Investing LLC increased its holdings in CocaCola by 8,419.4% in the 1st quarter. GAMMA Investing LLC now owns 5,961,004 shares of the company's stock valued at $426,927,000 after purchasing an additional 5,891,034 shares during the last quarter. Finally, Raymond James Financial Inc. raised its position in CocaCola by 47.4% in the first quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company's stock valued at $848,315,000 after purchasing an additional 3,810,752 shares during the period. Institutional investors and hedge funds own 70.26% of the company's stock.

CocaCola Price Performance

Shares of NYSE KO opened at $68.39 on Friday. The stock's 50-day simple moving average is $69.78 and its 200-day simple moving average is $70.48. The firm has a market capitalization of $294.34 billion, a PE ratio of 24.25, a price-to-earnings-growth ratio of 3.58 and a beta of 0.44. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21.

CocaCola (NYSE:KO - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.83 by $0.04. The company had revenue of $12.50 billion for the quarter, compared to analyst estimates of $12.55 billion. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The firm's revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.84 earnings per share. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. As a group, equities research analysts forecast that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be given a dividend of $0.51 per share. The ex-dividend date is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.0%. CocaCola's payout ratio is 72.34%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on KO. JPMorgan Chase & Co. boosted their price objective on CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the stock an "outperform" rating in a research note on Monday, July 21st. Morgan Stanley reissued an "overweight" rating and issued a $81.00 price objective on shares of CocaCola in a research note on Monday, June 9th. UBS Group cut their target price on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Finally, BNP Paribas restated an "outperform" rating and issued a $83.00 price target on shares of CocaCola in a research note on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $77.21.

Insider Buying and Selling at CocaCola

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the transaction, the insider owned 209,513 shares of the company's stock, valued at $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.97% of the company's stock.

CocaCola 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.

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