MidWestOne Financial Group Inc. Has $1.07 Million Position in The Coca-Cola Company (NYSE:KO)

MidWestOne Financial Group Inc. lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.3% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 16,835 shares of the company’s stock after selling 218 shares during the period. MidWestOne Financial Group Inc.’s holdings in Coca-Cola were worth $1,072,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. New Millennium Group LLC acquired a new position in shares of Coca-Cola during the second quarter valued at about $26,000. Redmont Wealth Advisors LLC acquired a new position in shares of Coca-Cola during the first quarter valued at about $28,000. ESL Trust Services LLC acquired a new position in shares of Coca-Cola during the first quarter valued at about $28,000. DiNuzzo Private Wealth Inc. raised its position in shares of Coca-Cola by 65.0% during the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after buying an additional 206 shares during the last quarter. Finally, Mount Lucas Management LP acquired a new position in shares of Coca-Cola during the second quarter valued at about $38,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Performance

NYSE KO opened at $71.79 on Friday. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $73.53. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The company has a 50 day moving average of $69.82 and a 200-day moving average of $64.75. The firm has a market cap of $309.27 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 3.97 and a beta of 0.60.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The business had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. Coca-Cola’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 earnings per share. On average, equities analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio is currently 77.60%.

Insider Activity at Coca-Cola

In related news, insider Bruno Pietracci sold 38,653 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total value of $2,667,443.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction on Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the sale, the insider now owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bruno Pietracci sold 38,653 shares of Coca-Cola stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total transaction of $2,667,443.53. The disclosure for this sale can be found here. Insiders sold a total of 974,715 shares of company stock valued at $579,704,927 over the last quarter. Corporate insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on KO shares. Cfra reissued a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. TD Cowen increased their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Bank of America increased their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Wells Fargo & Company increased their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, Citigroup increased their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and an average target price of $71.07.

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.