Santander Boosts Stake in Coca-Cola as Institutional Investors Flock to the Beverage Giant
Banco Santander S.A. increased its holdings in The Coca-Cola Company (KO) shares by 3.1% in the second quarter, according to its latest 13F filing with the Securities and Exchange Commission.
The fund owned 1,090,758 shares of KO's stock after purchasing an additional 32,723 shares during the quarter, making Banco Santander S.A.'s holdings in Coca-Cola worth $88,646,000 at the end of the most recent reporting period.
This is not an isolated instance, as several other institutional investors and hedge funds have also recently bought and sold KO shares. For example, Harel Insurance Investments & Financial Services Ltd. lifted its position in KO by 105% in the second quarter, while Oregon Public Employees Retirement Fund increased its position in KO shares by 7.4% during the same period.
The consensus price target for KO is $95.76, with 15 investment analysts rating the stock as 'buy' and three assigning a 'hold' rating to the company.