Maltin Wealth Management Inc. Invests $484,000 in The Coca-Cola Company (NYSE:KO)

Maltin Wealth Management Inc. acquired a new stake in shares of The Coca-Cola Company (NYSE:KO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 8,038 shares of the company’s stock, valued at approximately $484,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Moneta Group Investment Advisors LLC raised its stake in shares of Coca-Cola by 103,297.9% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 57,734,303 shares of the company’s stock valued at $3,672,479,000 after acquiring an additional 57,678,466 shares during the last quarter. Norges Bank bought a new position in Coca-Cola during the 4th quarter worth $2,937,315,000. Morgan Stanley lifted its holdings in Coca-Cola by 15.7% during the 4th quarter. Morgan Stanley now owns 79,101,856 shares of the company’s stock worth $5,031,669,000 after buying an additional 10,722,435 shares during the period. Gateway Advisory LLC grew its position in shares of Coca-Cola by 26,580.3% in the 1st quarter. Gateway Advisory LLC now owns 4,330,750 shares of the company’s stock valued at $4,331,000 after buying an additional 4,314,518 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Coca-Cola by 7.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 58,090,088 shares of the company’s stock valued at $3,662,834,000 after buying an additional 4,147,833 shares during the period. Institutional investors own 68.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on KO. HSBC decreased their price objective on shares of Coca-Cola from $77.00 to $74.00 in a research report on Wednesday, June 7th. JPMorgan Chase & Co. lifted their price objective on shares of Coca-Cola from $67.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, July 27th. Barclays boosted their target price on Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. Royal Bank of Canada increased their target price on Coca-Cola from $69.00 to $70.00 in a report on Thursday, July 27th. Finally, StockNews.com started coverage on shares of Coca-Cola in a research note on Thursday, August 17th. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus price target of $68.33.

Insider Buying and Selling

In other news, SVP Monica Howard Douglas sold 21,074 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $60.90, for a total value of $1,283,406.60. Following the sale, the senior vice president now owns 18,360 shares of the company’s stock, valued at $1,118,124. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Monica Howard Douglas sold 21,074 shares of Coca-Cola stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $60.90, for a total value of $1,283,406.60. Following the completion of the transaction, the senior vice president now directly owns 18,360 shares in the company, valued at $1,118,124. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO John Murphy sold 156,290 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $62.10, for a total value of $9,705,609.00. Following the sale, the chief financial officer now directly owns 228,830 shares in the company, valued at approximately $14,210,343. The disclosure for this sale can be found here. In the last 90 days, insiders sold 227,364 shares of company stock valued at $14,122,016. 1.00% of the stock is owned by insiders.

Coca-Cola Stock Down 0.4 %

KO stock traded down $0.21 during trading on Monday, reaching $57.73. The stock had a trading volume of 3,985,026 shares, compared to its average volume of 13,104,641. The company has a market capitalization of $249.64 billion, a price-to-earnings ratio of 23.74, a P/E/G ratio of 3.43 and a beta of 0.55. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.29. The company’s 50 day moving average is $60.49 and its two-hundred day moving average is $61.25. The Coca-Cola Company has a one year low of $54.01 and a one year high of $64.99.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, July 26th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.06. Coca-Cola had a net margin of 23.81% and a return on equity of 43.06%. The company had revenue of $12 billion during the quarter, compared to analyst estimates of $11.74 billion. During the same quarter in the prior year, the business earned $0.70 earnings per share. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. Equities research analysts forecast that The Coca-Cola Company will post 2.63 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.84 annualized dividend and a dividend yield of 3.19%. Coca-Cola’s payout ratio is 75.72%.

Coca-Cola 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.