Martingale Asset Management L P lessened its stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE – Free Report) by 6.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 73,066 shares of the company’s stock after selling 5,043 shares during the quarter. Martingale Asset Management L P’s holdings in Coca-Cola Consolidated were worth $11,201,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its holdings in Coca-Cola Consolidated by 6.5% in the 4th quarter. Wells Fargo & Company MN now owns 48,744 shares of the company’s stock worth $7,473,000 after acquiring an additional 2,972 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Coca-Cola Consolidated during the fourth quarter worth $5,038,000. ROI Financial Advisors LLC grew its holdings in shares of Coca-Cola Consolidated by 2.1% during the fourth quarter. ROI Financial Advisors LLC now owns 10,392 shares of the company’s stock worth $1,593,000 after buying an additional 209 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Coca-Cola Consolidated by 5.3% during the fourth quarter. Quadrant Capital Group LLC now owns 3,828 shares of the company’s stock worth $587,000 after buying an additional 193 shares in the last quarter. Finally, Elevation Wealth Management LLC purchased a new stake in shares of Coca-Cola Consolidated during the fourth quarter worth $204,000. Hedge funds and other institutional investors own 48.24% of the company’s stock.
Coca-Cola Consolidated Price Performance
Coca-Cola Consolidated stock opened at $187.89 on Friday. Coca-Cola Consolidated, Inc. has a 52-week low of $105.44 and a 52-week high of $219.65. The firm has a market capitalization of $12.51 billion, a price-to-earnings ratio of 25.70 and a beta of 0.55. The company has a fifty day simple moving average of $185.50 and a 200-day simple moving average of $176.12. The company has a quick ratio of 0.91, a current ratio of 1.23 and a debt-to-equity ratio of 0.88.
Coca-Cola Consolidated Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Friday, April 24th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, April 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio is currently 13.68%.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy”.
View Our Latest Analysis on COKE
Coca-Cola Consolidated Profile
Founded in 1902 and headquartered in Charlotte, North Carolina, Coca-Cola Consolidated, Inc is the largest independent bottler of Coca-Cola products in the United States. The company manufactures, sells and distributes a broad portfolio of sparkling and still beverages under exclusive agreements with The Coca-Cola Company. Its brand lineup includes Coca-Cola, Diet Coke, Sprite and Fanta, as well as noncarbonated offerings such as Minute Maid juices, Gold Peak teas, Dasani water, Powerade sports drinks and vitaminwater.
Coca-Cola Consolidated’s operations span 14 states and the District of Columbia across the Southeastern, South Central and Mid-Atlantic regions.
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