Miracle Mile Advisors LLC Acquires 80,876 Shares of The Coca-Cola Company (NYSE:KO)

Miracle Mile Advisors LLC grew its holdings in The Coca-Cola Company (NYSE:KO) by 838.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 90,519 shares of the company’s stock after acquiring an additional 80,876 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Coca-Cola were worth $5,636,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of KO. Sunflower Bank N.A. grew its stake in Coca-Cola by 1.5% in the fourth quarter. Sunflower Bank N.A. now owns 27,499 shares of the company’s stock valued at $1,712,000 after purchasing an additional 400 shares in the last quarter. Consilio Wealth Advisors LLC increased its holdings in shares of Coca-Cola by 5.6% during the fourth quarter. Consilio Wealth Advisors LLC now owns 4,316 shares of the company’s stock worth $269,000 after purchasing an additional 228 shares during the period. Persium Advisors LLC bought a new stake in Coca-Cola during the fourth quarter worth about $646,000. Abound Wealth Management lifted its stake in Coca-Cola by 30.8% during the fourth quarter. Abound Wealth Management now owns 1,304 shares of the company’s stock worth $81,000 after purchasing an additional 307 shares during the last quarter. Finally, Sivia Capital Partners LLC boosted its stake in shares of Coca-Cola by 5.5% in the 4th quarter. Sivia Capital Partners LLC now owns 8,107 shares of the company’s stock valued at $505,000 after purchasing an additional 426 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on KO. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Wednesday, January 8th. Barclays dropped their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Morgan Stanley lowered their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Truist Financial upped their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and increased their target price for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $72.60.

Coca-Cola Price Performance

KO traded up $0.61 during trading on Monday, hitting $61.68. 18,000,721 shares of the company traded hands, compared to its average volume of 16,123,142. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The company has a market cap of $265.70 billion, a PE ratio of 25.49, a P/E/G ratio of 3.83 and a beta of 0.61. The stock’s 50-day simple moving average is $62.91 and its two-hundred day simple moving average is $66.50. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53.

Coca-Cola (NYSE:KO) last released its quarterly 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 business had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 EPS. As a group, sell-side analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a dividend of $0.485 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.15%. Coca-Cola’s dividend payout ratio is 80.17%.

Insider Activity

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

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.