Midwest Trust Co Acquires New Position in CocaCola Company (The) $KO

Midwest Trust Co bought a new position in CocaCola Company (The) (NYSE:KO) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 302,814 shares of the company’s stock, valued at approximately $21,424,000.

Several other institutional investors and hedge funds have also made changes to their positions in KO. 1248 Management LLC purchased a new position in CocaCola during the first quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd increased its stake in shares of CocaCola by 5,142.9% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock worth $26,000 after acquiring an additional 360 shares during the last quarter. Ridgewood Investments LLC raised 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. MMA Asset Management LLC acquired a new position in shares of CocaCola during the 2nd quarter valued at about $34,000. Finally, GFG Capital LLC purchased a new stake in shares of CocaCola in the second quarter valued at about $34,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Monica Howard Douglas sold 13,548 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $69.93, for a total value of $947,411.64. Following the completion of the transaction, the executive vice president owned 37,725 shares of the company’s stock, valued at approximately $2,638,109.25. This trade represents a 26.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Max R. Levchin acquired 7,206 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The stock was acquired at an average price of $69.87 per share, with a total value of $503,483.22. Following the acquisition, the director directly owned 14,267 shares of the company’s stock, valued at approximately $996,835.29. This represents a 102.05% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.97% of the stock is currently owned by corporate insiders.

CocaCola Stock Up 2.2%

Shares of NYSE KO opened at $70.61 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. The business’s 50 day moving average is $67.75 and its two-hundred day moving average is $69.53. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The firm has a market cap of $303.75 billion, a price-to-earnings ratio of 23.38, a PEG ratio of 3.57 and a beta of 0.43.

CocaCola (NYSE:KO) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. The business had revenue of $11.40 billion during the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%. Research analysts predict that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

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 dividend of $0.51 per share. The ex-dividend date is Monday, December 1st. This represents a $2.04 dividend on an annualized basis and a yield of 2.9%. CocaCola’s dividend payout ratio is 67.55%.

Wall Street Analysts Forecast Growth

KO has been the topic of a number of analyst reports. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a research note on Thursday, October 23rd. BNP Paribas reaffirmed an “outperform” rating and set a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. Evercore ISI reiterated an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. UBS Group cut their target price on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, September 11th. Finally, TD Cowen upped their price target on CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $78.43.

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.