Mid American Wealth Advisory Group Inc. Sells 5,409 Shares of The Coca-Cola Company (NYSE:KO)

Mid American Wealth Advisory Group Inc. cut its holdings in shares of The Coca-Cola Company (NYSE:KO) by 14.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 33,363 shares of the company’s stock after selling 5,409 shares during the period. Coca-Cola accounts for approximately 1.5% of Mid American Wealth Advisory Group Inc.’s portfolio, making the stock its 19th biggest position. Mid American Wealth Advisory Group Inc.’s holdings in Coca-Cola were worth $2,397,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in KO. New Millennium Group LLC acquired a new stake in shares of Coca-Cola during the second quarter worth $26,000. Quarry LP bought a new position in Coca-Cola during the 2nd quarter worth about $27,000. ESL Trust Services LLC acquired a new stake in shares of Coca-Cola in the 1st quarter valued at about $28,000. Redmont Wealth Advisors LLC bought a new stake in shares of Coca-Cola in the first quarter valued at about $28,000. Finally, DiNuzzo Private Wealth Inc. boosted 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 worth $32,000 after buying an additional 206 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on KO. StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price target on shares of Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Royal Bank of Canada boosted their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, TD Cowen raised their price objective on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $71.07.

Insider Activity at Coca-Cola

In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Nancy Quan sold 18,482 shares of the firm’s 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 of the company’s stock, valued at approximately $15,398,603.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Cola Co Coca sold 598,619 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the transaction, the insider now directly owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The disclosure for this sale can be found here. Insiders have sold a total of 974,715 shares of company stock valued at $579,704,927 in the last 90 days. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Stock Down 1.0 %

NYSE KO opened at $71.01 on Thursday. The company has a market cap of $305.91 billion, a price-to-earnings ratio of 28.40, a PEG ratio of 3.97 and a beta of 0.60. 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 $70.20 and a 200-day moving average of $64.98.

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

Coca-Cola Dividend Announcement

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