CocaCola Company (The) $KO Shares Acquired by Banco Santander S.A.

Banco Santander S.A. grew its stake in CocaCola Company (The) (NYSE:KO) by 14.8% during the second quarter, HoldingsChannel.com reports. The firm owned 559,678 shares of the company’s stock after purchasing an additional 72,167 shares during the period. Banco Santander S.A.’s holdings in CocaCola were worth $39,597,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. MorganRosel Wealth Management LLC acquired a new stake in shares of CocaCola in the 1st quarter valued at about $25,000. 1248 Management LLC acquired a new stake in shares of CocaCola in the 1st quarter valued at about $26,000. Caitong International Asset Management Co. Ltd raised its stake in shares of CocaCola by 5,142.9% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock valued at $26,000 after purchasing an additional 360 shares in the last quarter. Ridgewood Investments LLC raised its stake in shares of CocaCola by 148.4% in the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock valued at $34,000 after purchasing an additional 285 shares in the last quarter. Finally, GFG Capital LLC bought a new stake in shares of CocaCola during the 2nd quarter valued at about $34,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on KO. TD Cowen boosted their price objective on shares of CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. UBS Group lowered their price objective on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, September 11th. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a research report on Thursday. Piper Sandler boosted their price objective on shares of CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the company an “outperform” rating in a research report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $78.31.

Insider Buying and Selling

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the company’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following the completion of the transaction, the insider owned 209,513 shares in the company, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.97% of the company’s stock.

CocaCola Price Performance

NYSE KO opened at $69.74 on Monday. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The company has a current ratio of 1.21, a quick ratio of 1.00 and a debt-to-equity ratio of 1.30. The stock has a market cap of $300.12 billion, a price-to-earnings ratio of 23.09, a price-to-earnings-growth ratio of 3.64 and a beta of 0.43. The company has a 50-day moving average price of $67.81 and a two-hundred day moving average price of $69.74.

CocaCola (NYSE:KO) last posted its earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. The firm had revenue of $11.40 billion during the quarter. Analysts forecast that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a $0.51 dividend. The ex-dividend date is Monday, December 1st. This represents a $2.04 annualized dividend and a yield of 2.9%. CocaCola’s dividend payout ratio is 67.55%.

About CocaCola

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.