Mid American Wealth Advisory Group Inc. Reduces Stock Holdings in CocaCola Company (The) $KO

Key Points

• Mid American Wealth Advisory Group Inc. reduced its stake in CocaCola Company by 19.3%, holding 23,653 shares after selling 5,639 during the second quarter, which represents about 0.8% of its total holdings.
• Insider Nikolaos Koumettis sold 37,396 shares of CocaCola at an average price of $69.10, decreasing his position by 15.15% and retaining 209,513 shares worth approximately $14.5 million.
• CocaCola has declared a quarterly dividend of $0.51 per share, with a dividend yield of 3.0%, payable on December 15th to shareholders of record on December 1st.

Mid American Wealth Advisory Group Inc. lowered its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 19.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,653 shares of the company's stock after selling 5,639 shares during the period. CocaCola accounts for approximately 0.8% of Mid American Wealth Advisory Group Inc.'s holdings, making the stock its 26th biggest holding. Mid American Wealth Advisory Group Inc.'s holdings in CocaCola were worth $1,673,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. MorganRosel Wealth Management LLC purchased a new position in shares of CocaCola during the first quarter valued at about $25,000. 1248 Management LLC purchased a new stake in CocaCola in the first quarter worth about $26,000. Garde Capital Inc. bought a new stake in CocaCola during the 1st quarter valued at approximately $30,000. Ridgewood Investments LLC grew its holdings in shares of CocaCola by 148.4% during the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock worth $34,000 after acquiring an additional 285 shares during the period. Finally, GFG Capital LLC bought a new position in shares of CocaCola in the 2nd quarter worth approximately $34,000. 70.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at CocaCola

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the business's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following the sale, the insider owned 209,513 shares in the company, valued at $14,477,348.30. The trade was a 15.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.97% of the company's stock.

CocaCola Stock Up 0.1%

KO opened at $68.52 on Tuesday. The stock has a market capitalization of $294.90 billion, a price-to-earnings ratio of 24.30, a PEG ratio of 3.57 and a beta of 0.43. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The firm has a 50 day moving average price of $67.79 and a 200-day moving average price of $69.69. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38.

CocaCola (NYSE:KO - Get Free Report) last posted its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The company had revenue of $11.40 billion for the quarter. Equities research analysts forecast that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 3.0%. The ex-dividend date is Monday, December 1st. CocaCola's dividend payout ratio is presently 72.34%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on KO. Weiss Ratings restated a "buy (b-)" rating on shares of CocaCola in a research report on Wednesday, October 8th. UBS Group dropped their target price on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, September 11th. Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the stock an "outperform" rating in a research report on Monday, July 21st. BNP Paribas reissued an "outperform" rating and set a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. Finally, Wells Fargo & Company cut their price objective on shares of CocaCola from $78.00 to $75.00 and set an "overweight" rating on the stock in a report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $76.69.

CocaCola 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.

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