Midwest Financial Group LLC Sells 219 Shares of The Coca-Cola Company (NYSE:KO)

Midwest Financial Group LLC reduced its holdings in shares of The Coca-Cola Company (NYSE:KOFree Report) by 1.4% during the first quarter, HoldingsChannel reports. The firm owned 15,892 shares of the company’s stock after selling 219 shares during the period. Midwest Financial Group LLC’s holdings in Coca-Cola were worth $972,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of KO. Enterprise Bank & Trust Co lifted its holdings in Coca-Cola by 3.4% in the fourth quarter. Enterprise Bank & Trust Co now owns 5,021 shares of the company’s stock valued at $296,000 after acquiring an additional 167 shares during the period. Goelzer Investment Management Inc. lifted its holdings in Coca-Cola by 1.8% in the fourth quarter. Goelzer Investment Management Inc. now owns 9,681 shares of the company’s stock valued at $571,000 after acquiring an additional 169 shares during the period. Elk River Wealth Management LLC lifted its holdings in Coca-Cola by 1.6% in the fourth quarter. Elk River Wealth Management LLC now owns 10,838 shares of the company’s stock valued at $639,000 after acquiring an additional 170 shares during the period. KRS Capital Management LLC lifted its holdings in Coca-Cola by 3.8% in the fourth quarter. KRS Capital Management LLC now owns 4,645 shares of the company’s stock valued at $274,000 after acquiring an additional 170 shares during the period. Finally, Wayfinding Financial LLC lifted its holdings in Coca-Cola by 1.8% in the fourth quarter. Wayfinding Financial LLC now owns 9,734 shares of the company’s stock valued at $573,000 after acquiring an additional 175 shares during the period. 70.26% of the stock is owned by institutional investors.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the completion of the transaction, the insider now owns 218,880 shares in the company, valued at approximately $13,644,979.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Monica Howard Douglas sold 8,874 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $63.31, for a total value of $561,812.94. Following the completion of the sale, the executive vice president now directly owns 33,638 shares of the company’s stock, valued at approximately $2,129,621.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nikolaos Koumettis sold 80,891 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $62.34, for a total value of $5,042,744.94. Following the completion of the sale, the insider now directly owns 218,880 shares of the company’s stock, valued at $13,644,979.20. The disclosure for this sale can be found here. Insiders sold 223,665 shares of company stock worth $13,995,465 in the last quarter. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Price Performance

Shares of NYSE:KO traded up $0.59 during trading on Friday, hitting $62.77. 28,282,194 shares of the company’s stock were exchanged, compared to its average volume of 9,836,777. The company has a market cap of $270.41 billion, a price-to-earnings ratio of 25.11, a PEG ratio of 3.51 and a beta of 0.59. The business’s 50-day simple moving average is $62.21 and its 200 day simple moving average is $60.59. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 0.86. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $64.36.

Coca-Cola (NYSE:KOGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.02. The business had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $11.01 billion. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 EPS. As a group, equities analysts predict that The Coca-Cola Company will post 2.82 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.09%. The ex-dividend date is Friday, June 14th. Coca-Cola’s dividend payout ratio is presently 77.60%.

Wall Street Analysts Forecast Growth

KO has been the topic of a number of recent research reports. Argus increased their target price on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Evercore ISI upped their price target on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. upped their price target on Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. UBS Group upped their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, Barclays upped their price target on Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus price target of $68.55.

Read Our Latest Stock Report on KO

Coca-Cola Profile

(Free Report)

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.

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

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