Itau Unibanco Holding S.A. Has $42.13 Million Stock Position in The Coca-Cola Company (NYSE:KO)

Itau Unibanco Holding S.A. increased its holdings in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 1,696.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 678,994 shares of the company's stock after buying an additional 641,196 shares during the quarter. Coca-Cola accounts for approximately 1.3% of Itau Unibanco Holding S.A.'s holdings, making the stock its 17th biggest position. Itau Unibanco Holding S.A.'s holdings in Coca-Cola were worth $42,125,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of KO. Crowley Wealth Management Inc. bought a new position in Coca-Cola during the fourth quarter valued at about $27,000. Mainstream Capital Management LLC bought a new position in shares of Coca-Cola in the 4th quarter valued at approximately $31,000. Retirement Wealth Solutions LLC acquired a new stake in Coca-Cola in the 4th quarter worth approximately $37,000. Murphy & Mullick Capital Management Corp acquired a new position in Coca-Cola in the 4th quarter valued at $38,000. Finally, Hoey Investments Inc. increased its stake in shares of Coca-Cola by 41.9% in the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company's stock worth $38,000 after purchasing an additional 181 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Coca-Cola

In related news, EVP Lisa Chang sold 13,445 shares of the firm's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total value of $961,317.50. Following the completion of the sale, the executive vice president now directly owns 94,676 shares in the company, valued at approximately $6,769,334. This trade represents a 12.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Henrique Braun sold 25,277 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the completion of the transaction, the chief operating officer now owns 52,466 shares in the company, valued at approximately $3,749,745.02. This represents a 32.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 313,423 shares of company stock valued at $22,263,071. Company insiders own 0.97% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on KO shares. DZ Bank upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 target price for the company in a research note on Thursday, February 13th. Jefferies Financial Group raised shares of Coca-Cola from a "hold" rating to a "buy" rating and upped their price objective for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. Piper Sandler boosted their price target on Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Wells Fargo & Company raised their price objective on Coca-Cola from $70.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Finally, Barclays restated an "overweight" rating on shares of Coca-Cola in a research report on Thursday, March 27th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Coca-Cola has a consensus rating of "Buy" and a consensus target price of $75.59.

Coca-Cola Price Performance

KO stock traded down $0.14 during midday trading on Monday, reaching $71.51. 4,576,637 shares of the company's stock traded hands, compared to its average volume of 15,399,543. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The company has a market cap of $307.73 billion, a price-to-earnings ratio of 28.96, a PEG ratio of 3.79 and a beta of 0.45. The company has a 50-day simple moving average of $70.90 and a two-hundred day simple moving average of $66.54. The Coca-Cola Company has a 1-year low of $60.62 and a 1-year high of $74.38.

Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.02. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The business had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same quarter in the prior year, the firm posted $0.72 earnings per share. The firm's revenue for the quarter was down .7% compared to the same quarter last year. On average, analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola's payout ratio is presently 81.60%.

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.