The Coca-Cola Company (NYSE:KO) Stock Position Decreased by Mid American Wealth Advisory Group Inc.

Mid American Wealth Advisory Group Inc. decreased its position in The Coca-Cola Company (NYSE:KO) by 14.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,363 shares of the company’s stock after selling 5,409 shares during the quarter. Coca-Cola comprises 1.5% of Mid American Wealth Advisory Group Inc.’s investment portfolio, making the stock its 19th largest holding. Mid American Wealth Advisory Group Inc.’s holdings in Coca-Cola were worth $2,397,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in KO. Ables Iannone Moore & Associates Inc. acquired a new position in Coca-Cola during the third quarter worth $210,000. Davis Capital Management increased its holdings in shares of Coca-Cola by 0.8% during the 3rd quarter. Davis Capital Management now owns 28,130 shares of the company’s stock valued at $2,021,000 after acquiring an additional 214 shares during the last quarter. IMPACTfolio LLC acquired a new stake in Coca-Cola in the 3rd quarter worth approximately $200,000. First Financial Bank Trust Division lifted its holdings in Coca-Cola by 3.8% in the 3rd quarter. First Financial Bank Trust Division now owns 12,487 shares of the company’s stock worth $897,000 after purchasing an additional 459 shares during the last quarter. Finally, Mattson Financial Services LLC bought a new position in shares of Coca-Cola in the second quarter valued at approximately $2,636,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Nancy Quan sold 18,482 shares of Coca-Cola stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,398,603.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $30,987,070.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Nancy Quan sold 18,482 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $68.95, for a total value of $1,274,333.90. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,398,603.50. The disclosure for this sale can be found here. In the last three months, insiders sold 974,715 shares of company stock valued at $579,704,927. 0.97% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on KO shares. Bank of America upped their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Truist Financial boosted their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. lifted their price objective on Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft upped their target price on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Finally, BNP Paribas assumed coverage on shares of Coca-Cola in a research note on Monday, June 24th. They set an “outperform” rating and a $72.00 price target on the stock. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.07.

Coca-Cola Price Performance

Shares of KO stock opened at $71.01 on Thursday. 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 firm’s 50 day moving average is $70.20 and its 200-day moving average is $64.98. The firm has a market capitalization of $305.91 billion, a price-to-earnings ratio of 28.40, a PEG ratio of 3.97 and a beta of 0.60.

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

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a dividend of $0.485 per share. The ex-dividend date was Friday, September 13th. This represents a $1.94 annualized dividend and a yield of 2.73%. Coca-Cola’s dividend payout ratio is currently 77.60%.

Coca-Cola 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.