Broadway Wealth Solutions Inc. Purchases New Shares in The Coca-Cola Company (NYSE:KO)

Broadway Wealth Solutions Inc. bought a new stake in shares of The Coca-Cola Company (NYSE:KO - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,872 shares of the company's stock, valued at approximately $241,000.

Several other hedge funds have also made changes to their positions in the company. Crowley Wealth Management Inc. bought a new stake in Coca-Cola during the fourth quarter valued at about $27,000. Mainstream Capital Management LLC purchased a new stake in shares of Coca-Cola during the fourth quarter valued at about $31,000. Retirement Wealth Solutions LLC bought a new stake in shares of Coca-Cola in the 4th quarter valued at about $37,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Coca-Cola in the 4th quarter worth approximately $38,000. Finally, MilWealth Group LLC bought a new position in shares of Coca-Cola during the 4th quarter worth approximately $40,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on KO. DZ Bank 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 Thursday, February 13th. Royal Bank of Canada restated an "outperform" rating and issued a $69.00 target price on shares of Coca-Cola in a research note on Thursday, February 6th. Jefferies Financial Group upgraded Coca-Cola from a "hold" rating to a "buy" rating and boosted their price target for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a "hold" rating to a "buy" rating and raised their price objective for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. dropped their target price on Coca-Cola from $75.00 to $70.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Coca-Cola has an average rating of "Moderate Buy" and an average price target of $74.24.

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Coca-Cola Stock Performance

KO traded down $0.38 during trading on Friday, hitting $70.36. The stock had a trading volume of 17,408,790 shares, compared to its average volume of 14,889,152. The firm has a market cap of $302.80 billion, a PE ratio of 28.49, a P/E/G ratio of 3.79 and a beta of 0.57. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The company has a 50 day simple moving average of $67.77 and a 200-day simple moving average of $66.41.

Coca-Cola (NYSE:KO - Get Free Report) last posted its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. Analysts expect that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Coca-Cola's previous quarterly dividend of $0.49. Coca-Cola's dividend payout ratio is 82.59%.

Insider Buying and Selling

In other news, EVP Lisa Chang sold 13,445 shares of the business's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total value of $961,317.50. Following the completion of the transaction, the executive vice president now owns 94,676 shares of the company's stock, valued at $6,769,334. The trade was a 12.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Henrique Braun sold 25,277 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total value of $1,806,547.19. Following the completion of the transaction, the chief operating officer now directly owns 52,466 shares of the company's stock, valued at approximately $3,749,745.02. The trade was a 32.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 313,423 shares of company stock worth $22,263,071 over the last three months. 0.97% of the stock is currently owned by company insiders.

Coca-Cola 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.