Miracle Mile Advisors LLC Purchases 972 Shares of The Coca-Cola Company (NYSE:KO)

Miracle Mile Advisors LLC lifted its position in shares of The Coca-Cola Company (NYSE:KO) by 11.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,643 shares of the company’s stock after purchasing an additional 972 shares during the period. Miracle Mile Advisors LLC’s holdings in Coca-Cola were worth $693,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in KO. New Millennium Group LLC bought a new stake in Coca-Cola in the second quarter valued at approximately $26,000. Quarry LP acquired a new stake in Coca-Cola during the 2nd quarter worth about $27,000. Redmont Wealth Advisors LLC bought a new position in shares of Coca-Cola in the 1st quarter worth about $28,000. ESL Trust Services LLC acquired a new position in shares of Coca-Cola in the 1st quarter valued at about $28,000. Finally, DiNuzzo Private Wealth Inc. boosted its position in shares of Coca-Cola by 65.0% during the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after purchasing an additional 206 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insiders Place Their Bets

In other news, insider Bruno Pietracci sold 38,653 shares of Coca-Cola stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total transaction of $2,667,443.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Bruno Pietracci sold 38,653 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the transaction, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 376,096 shares of company stock valued at $25,982,352. Insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on KO shares. Bank of America lifted their target price on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Wells Fargo & Company boosted their target price on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. TD Cowen upped their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Finally, Citigroup raised their target price on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $71.07.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $69.16 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The stock has a market cap of $297.94 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 3.97 and a beta of 0.60. The stock’s fifty day simple moving average is $70.40 and its two-hundred day simple moving average is $65.21. The Coca-Cola Company has a 1-year low of $52.11 and a 1-year high of $73.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The company had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the firm earned $0.78 earnings per share. As a group, analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a dividend of $0.485 per share. The ex-dividend date was Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a yield of 2.81%. Coca-Cola’s dividend payout ratio (DPR) is currently 77.60%.

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.