Mid American Wealth Advisory Group Inc. Has $2.10 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

Mid American Wealth Advisory Group Inc. decreased its position in The Coca-Cola Company (NYSE:KO - Free Report) by 11.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,292 shares of the company's stock after selling 3,756 shares during the quarter. Coca-Cola comprises approximately 1.1% of Mid American Wealth Advisory Group Inc.'s holdings, making the stock its 25th largest position. Mid American Wealth Advisory Group Inc.'s holdings in Coca-Cola were worth $2,098,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Voleon Capital Management LP purchased a new position in shares of Coca-Cola in the fourth quarter worth approximately $2,513,000. Rice Partnership LLC boosted its stake in Coca-Cola by 7.1% in the 4th quarter. Rice Partnership LLC now owns 102,746 shares of the company's stock worth $6,397,000 after purchasing an additional 6,793 shares during the period. Newbridge Financial Services Group Inc. grew its position in Coca-Cola by 62.2% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 26,708 shares of the company's stock worth $1,663,000 after purchasing an additional 10,240 shares in the last quarter. Lockheed Martin Investment Management Co. grew its position in Coca-Cola by 16.3% during the 4th quarter. Lockheed Martin Investment Management Co. now owns 218,985 shares of the company's stock worth $13,634,000 after purchasing an additional 30,650 shares in the last quarter. Finally, abrdn plc raised its stake in Coca-Cola by 0.3% during the 4th quarter. abrdn plc now owns 7,238,640 shares of the company's stock valued at $447,963,000 after purchasing an additional 22,904 shares during the period. Institutional investors own 70.26% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on KO. Morgan Stanley raised their target price on Coca-Cola from $76.00 to $78.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. UBS Group raised their price objective on Coca-Cola from $84.00 to $86.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. DZ Bank raised shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price objective on the stock in a research report on Thursday, February 13th. Barclays reiterated an "overweight" rating on shares of Coca-Cola in a research report on Thursday, March 27th. Finally, Wells Fargo & Company boosted their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $75.81.

Coca-Cola Stock Performance

NYSE:KO traded down $0.77 during midday trading on Tuesday, reaching $71.23. The stock had a trading volume of 20,134,382 shares, compared to its average volume of 15,743,774. The stock has a market capitalization of $306.59 billion, a P/E ratio of 28.84, a PEG ratio of 3.79 and a beta of 0.47. The Coca-Cola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The firm's fifty day simple moving average is $71.39 and its 200-day simple moving average is $67.39.

Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.02. The company had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The firm's revenue was down .7% compared to the same quarter last year. During the same period last year, the business posted $0.72 earnings per share. On average, equities research analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola's dividend payout ratio (DPR) is currently 81.60%.

Insiders Place Their Bets

In other Coca-Cola news, insider Nikolaos Koumettis sold 55,500 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $71.01, for a total value of $3,941,055.00. Following the completion of the transaction, the insider now owns 246,909 shares of the company's stock, valued at $17,533,008.09. This represents a 18.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Henrique Braun sold 25,277 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total value of $1,806,547.19. Following the completion of the sale, the chief operating officer now owns 52,466 shares of the company's stock, valued at $3,749,745.02. This represents a 32.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 496,164 shares of company stock valued at $35,671,587 in the last three months. Company insiders own 0.97% of the company's stock.

Coca-Cola Company 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.