Midwest Financial Group LLC Sells 6,630 Shares of CocaCola Company (The) (NYSE:KO)

Midwest Financial Group LLC decreased its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 64.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 3,709 shares of the company's stock after selling 6,630 shares during the quarter. Midwest Financial Group LLC's holdings in CocaCola were worth $266,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Tallon Kerry Patrick purchased a new position in shares of CocaCola in the fourth quarter valued at $241,000. Brighton Jones LLC grew its holdings in CocaCola by 13.3% during the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock valued at $2,433,000 after buying an additional 4,591 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in CocaCola during the 4th quarter valued at about $24,472,000. Revolve Wealth Partners LLC increased its position in shares of CocaCola by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock valued at $548,000 after buying an additional 293 shares during the period. Finally, Bank Pictet & Cie Europe AG lifted its holdings in shares of CocaCola by 12.2% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company's stock worth $1,189,000 after buying an additional 2,072 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

CocaCola Price Performance

Shares of CocaCola stock opened at $68.84 on Friday. The stock has a market capitalization of $296.32 billion, a price-to-earnings ratio of 27.54, a price-to-earnings-growth ratio of 3.61 and a beta of 0.46. The company has a fifty day moving average of $71.50 and a 200-day moving average of $68.07. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.89 and a current ratio of 1.10.

CocaCola (NYSE:KO - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.02. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. The firm had revenue of $11.13 billion for the quarter, compared to analysts' expectations of $11.23 billion. During the same period last year, the firm earned $0.72 earnings per share. The company's revenue for the quarter was down .7% compared to the same quarter last year. Equities research analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.96%. CocaCola's payout ratio is currently 81.60%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on KO shares. Royal Bank Of Canada upped their target price on shares of CocaCola from $73.00 to $76.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Cfra Research upgraded CocaCola to a "strong-buy" rating in a research report on Tuesday, April 15th. UBS Group boosted their target price on CocaCola from $84.00 to $86.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Piper Sandler raised their price target on CocaCola from $73.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. lifted their price target on CocaCola from $74.00 to $78.00 and gave the company an "overweight" rating in a research report on Monday, April 21st. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $76.00.

Insider Activity

In other news, CEO James Quincey sold 266,403 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the sale, the chief executive officer now directly owns 275,946 shares in the company, valued at approximately $19,884,668.76. This represents a 49.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO John Murphy sold 88,658 shares of the business's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total value of $6,391,355.22. Following the transaction, the chief financial officer now owns 205,511 shares in the company, valued at approximately $14,815,287.99. This represents a 30.14% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 415,387 shares of company stock valued at $29,923,985. 0.97% of the stock is currently owned by company insiders.

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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