Pendal Group Ltd increased its stake in shares of The Coca-Cola Co (NYSE:KO) by 15.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 96,599 shares of the company’s stock after acquiring an additional 13,181 shares during the quarter. Pendal Group Ltd’s holdings in The Coca-Cola were worth $4,908,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Prime Capital Investment Advisors LLC acquired a new stake in The Coca-Cola during the first quarter worth $28,000. Orrstown Financial Services Inc. boosted its stake in The Coca-Cola by 230.8% during the first quarter. Orrstown Financial Services Inc. now owns 741 shares of the company’s stock worth $35,000 after buying an additional 517 shares in the last quarter. Financial Gravity Wealth Inc. acquired a new stake in The Coca-Cola during the first quarter worth $35,000. Canton Hathaway LLC boosted its stake in The Coca-Cola by 83.5% during the second quarter. Canton Hathaway LLC now owns 945 shares of the company’s stock worth $48,000 after buying an additional 430 shares in the last quarter. Finally, PRW Wealth Management LLC acquired a new stake in The Coca-Cola during the fourth quarter worth $50,000. 66.69% of the stock is currently owned by institutional investors and hedge funds.

NYSE:KO traded down $0.14 on Wednesday, hitting $53.36. 536,230 shares of the stock were exchanged, compared to its average volume of 13,998,860. The firm has a market capitalization of $228.43 billion, a PE ratio of 25.85, a price-to-earnings-growth ratio of 3.71 and a beta of 0.48. The Coca-Cola Co has a 52 week low of $44.25 and a 52 week high of $54.82. The company has a quick ratio of 0.71, a current ratio of 0.83 and a debt-to-equity ratio of 1.44. The business has a 50-day moving average of $52.39.

The Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.01. The firm had revenue of $10 billion during the quarter, compared to analysts’ expectations of $9.86 billion. The Coca-Cola had a return on equity of 45.67% and a net margin of 21.11%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.61 EPS. Sell-side analysts predict that The Coca-Cola Co will post 2.1 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.00%. The Coca-Cola’s dividend payout ratio (DPR) is presently 76.92%.

A number of equities research analysts have weighed in on the stock. SunTrust Banks lifted their price target on shares of The Coca-Cola to $60.00 and gave the stock a “positive” rating in a research note on Wednesday, July 24th. UBS Group boosted their target price on shares of The Coca-Cola from $50.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Atlantic Securities assumed coverage on shares of The Coca-Cola in a research note on Monday, July 29th. They issued an “overweight” rating and a $62.00 target price on the stock. Zacks Investment Research upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Tuesday, June 4th. Finally, Barclays set a $54.00 target price on shares of The Coca-Cola and gave the company a “buy” rating in a research note on Thursday, May 16th. Eleven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The Coca-Cola presently has a consensus rating of “Buy” and an average price target of $54.10.

In other news, insider James L. Dinkins sold 45,875 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $53.26, for a total value of $2,443,302.50. Following the completion of the sale, the insider now directly owns 95,101 shares of the company’s stock, valued at approximately $5,065,079.26. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Beatriz R. Perez sold 14,094 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $49.50, for a total value of $697,653.00. Following the completion of the sale, the senior vice president now directly owns 108,551 shares of the company’s stock, valued at $5,373,274.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 332,855 shares of company stock valued at $16,879,778. 1.33% of the stock is currently owned by company insiders.

About The Coca-Cola

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant–based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

Featured Article: Certificate of Deposit (CD) For Risk Adverse Investors?

Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

Receive News & Ratings for The Coca-Cola Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Coca-Cola and related companies with MarketBeat.com's FREE daily email newsletter.