Midwest Financial Group LLC Decreases Position in The Coca-Cola Company (NYSE:KO)

Midwest Financial Group LLC reduced its stake in The Coca-Cola Company (NYSE:KO) by 5.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,339 shares of the company’s stock after selling 553 shares during the period. Midwest Financial Group LLC’s holdings in Coca-Cola were worth $644,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fred Alger Management LLC grew its position in shares of Coca-Cola by 7.5% during the second quarter. Fred Alger Management LLC now owns 102,078 shares of the company’s stock worth $6,497,000 after acquiring an additional 7,160 shares during the last quarter. Drucker Wealth 3.0 LLC purchased a new position in Coca-Cola during the 2nd quarter worth $3,368,000. Delta Investment Management LLC increased its stake in Coca-Cola by 4.1% in the second quarter. Delta Investment Management LLC now owns 7,114 shares of the company’s stock valued at $453,000 after purchasing an additional 283 shares during the period. Daymark Wealth Partners LLC raised its holdings in shares of Coca-Cola by 5.6% in the second quarter. Daymark Wealth Partners LLC now owns 224,335 shares of the company’s stock valued at $14,279,000 after buying an additional 11,904 shares during the last quarter. Finally, MBB Public Markets I LLC boosted its stake in shares of Coca-Cola by 1,716.8% during the second quarter. MBB Public Markets I LLC now owns 290,784 shares of the company’s stock worth $18,508,000 after buying an additional 274,779 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on KO shares. Truist Financial upped their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Barclays decreased their price target on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Wells Fargo & Company reduced their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Finally, TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Wednesday, January 8th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $72.07.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $61.67 on Friday. The firm has a market capitalization of $265.65 billion, a price-to-earnings ratio of 25.42, a price-to-earnings-growth ratio of 3.38 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The business’s 50 day simple moving average is $62.63 and its 200-day simple moving average is $66.40. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53.

Coca-Cola (NYSE:KO) last posted its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. Coca-Cola’s revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.74 earnings per share. As a group, equities analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

About Coca-Cola

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.