Hsbc Holdings PLC acquired a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE – Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 39,551 shares of the company’s stock, valued at approximately $6,109,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in shares of Coca-Cola Consolidated during the third quarter worth $25,000. Advisory Services Network LLC purchased a new position in shares of Coca-Cola Consolidated in the third quarter worth about $25,000. Newbridge Financial Services Group Inc. lifted its stake in shares of Coca-Cola Consolidated by 900.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company’s stock worth $26,000 after buying an additional 207 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Coca-Cola Consolidated by 900.0% in the second quarter. Geneos Wealth Management Inc. now owns 250 shares of the company’s stock worth $28,000 after buying an additional 225 shares in the last quarter. Finally, Torren Management LLC acquired a new position in Coca-Cola Consolidated during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 48.24% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Coca-Cola Consolidated currently has a consensus rating of “Buy”.
Coca-Cola Consolidated Stock Performance
NASDAQ:COKE opened at $175.78 on Thursday. Coca-Cola Consolidated, Inc. has a one year low of $109.42 and a one year high of $219.65. The stock has a market cap of $11.70 billion, a PE ratio of 24.05 and a beta of 0.54. The stock has a 50 day moving average price of $182.33 and a 200 day moving average price of $178.92.
Coca-Cola Consolidated (NASDAQ:COKE – Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $1.79 earnings per share for the quarter. The company had revenue of $1.71 billion for the quarter. Coca-Cola Consolidated had a return on equity of 138.44% and a net margin of 7.72%.
Coca-Cola Consolidated Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Friday, April 24th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Friday, April 24th. Coca-Cola Consolidated’s payout ratio is currently 13.68%.
About Coca-Cola Consolidated
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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