The Coca-Cola Company (NYSE:KO) Shares Sold by Mid American Wealth Advisory Group Inc.

Mid American Wealth Advisory Group Inc. cut its stake in shares of The Coca-Cola Company (NYSE:KO) by 6.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,128 shares of the company’s stock after selling 2,868 shares during the quarter. Coca-Cola accounts for approximately 1.8% of Mid American Wealth Advisory Group Inc.’s holdings, making the stock its 17th biggest position. Mid American Wealth Advisory Group Inc.’s holdings in Coca-Cola were worth $2,611,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Insigneo Advisory Services LLC lifted its holdings in Coca-Cola by 12.2% in the third quarter. Insigneo Advisory Services LLC now owns 41,683 shares of the company’s stock valued at $2,354,000 after acquiring an additional 4,527 shares during the period. HF Advisory Group LLC lifted its holdings in Coca-Cola by 7.6% in the third quarter. HF Advisory Group LLC now owns 6,770 shares of the company’s stock valued at $379,000 after acquiring an additional 476 shares during the period. Wahed Invest LLC lifted its holdings in Coca-Cola by 10.3% in the third quarter. Wahed Invest LLC now owns 61,355 shares of the company’s stock valued at $3,435,000 after acquiring an additional 5,707 shares during the period. Cohen Lawrence B raised its stake in shares of Coca-Cola by 2.8% during the 3rd quarter. Cohen Lawrence B now owns 40,872 shares of the company’s stock worth $2,288,000 after buying an additional 1,111 shares during the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO raised its stake in shares of Coca-Cola by 3.2% during the 4th quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 46,470 shares of the company’s stock worth $2,738,000 after buying an additional 1,455 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on KO shares. Barclays lifted their price target on Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Citigroup lifted their price target on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Finally, JPMorgan Chase & Co. dropped their price objective on Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, April 19th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and a consensus target price of $67.22.

Coca-Cola Price Performance

Coca-Cola stock traded up $0.09 during midday trading on Monday, reaching $61.83. 8,022,788 shares of the company were exchanged, compared to its average volume of 13,918,808. The company has a market capitalization of $266.56 billion, a price-to-earnings ratio of 24.99, a P/E/G ratio of 3.53 and a beta of 0.59. The firm’s 50-day simple moving average is $60.12 and its 200-day simple moving average is $58.89. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $64.69. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.95 and a current ratio of 1.13.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.48 by $0.01. The company had revenue of $10.80 billion during the quarter, compared to analysts’ expectations of $10.68 billion. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.45 EPS. On average, analysts anticipate that The Coca-Cola Company will post 2.81 EPS for the current year.

Coca-Cola Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a $0.485 dividend. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, March 14th. This represents a $1.94 annualized dividend and a yield of 3.14%. Coca-Cola’s payout ratio is 78.23%.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of Coca-Cola stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $13,594,097.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Nancy Quan sold 57,368 shares of Coca-Cola stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total value of $3,491,990.16. Following the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $13,594,097.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bruno Pietracci sold 18,551 shares of Coca-Cola stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $59.41, for a total value of $1,102,114.91. The disclosure for this sale can be found here. Insiders sold 375,407 shares of company stock worth $22,795,742 in the last 90 days. 0.97% of the stock is owned by company insiders.

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.