Entropy Technologies LP raised its position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE – Free Report) by 256.5% in the first quarter, HoldingsChannel.com reports. The firm owned 6,060 shares of the company’s stock after buying an additional 4,360 shares during the period. Entropy Technologies LP’s holdings in Coca-Cola Consolidated were worth $1,162,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Coca-Cola Consolidated in the first quarter valued at $4,028,000. Renaissance Technologies LLC grew its holdings in Coca-Cola Consolidated by 13.4% during the first quarter. Renaissance Technologies LLC now owns 382,270 shares of the company’s stock worth $73,296,000 after acquiring an additional 45,300 shares during the period. Modern Wealth Management LLC bought a new stake in Coca-Cola Consolidated in the first quarter worth about $200,000. Arrowstreet Capital Limited Partnership raised its position in Coca-Cola Consolidated by 64.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 202,457 shares of the company’s stock worth $38,819,000 after acquiring an additional 79,171 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in Coca-Cola Consolidated by 196.1% in the 1st quarter. Sei Investments Co. now owns 30,792 shares of the company’s stock valued at $5,904,000 after acquiring an additional 20,393 shares during the last quarter. 48.24% of the stock is currently owned by institutional investors and hedge funds.
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 MarketBeat, Coca-Cola Consolidated presently has an average rating of “Buy”.
Coca-Cola Consolidated Stock Up 0.9%
Shares of NASDAQ COKE opened at $186.28 on Tuesday. The stock has a market capitalization of $12.40 billion, a price-to-earnings ratio of 25.48 and a beta of 0.54. The stock’s fifty day simple moving average is $181.31 and its 200 day simple moving average is $181.07. Coca-Cola Consolidated, Inc. has a 52-week low of $110.40 and a 52-week high of $219.65.
Coca-Cola Consolidated (NASDAQ:COKE – Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $1.79 EPS for the quarter. Coca-Cola Consolidated had a return on equity of 138.44% and a net margin of 7.72%.The business had revenue of $1.71 billion during the quarter.
Coca-Cola Consolidated Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date is Friday, July 24th. Coca-Cola Consolidated’s payout ratio is presently 13.68%.
Coca-Cola Consolidated Company 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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