Convergence Investment Partners LLC acquired a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE – Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,954 shares of the company’s stock, valued at approximately $759,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of COKE. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Coca-Cola Consolidated by 8.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,251 shares of the company’s stock worth $23,289,000 after buying an additional 1,385 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Coca-Cola Consolidated by 1,587.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 270 shares of the company’s stock worth $30,000 after buying an additional 254 shares in the last quarter. Baird Financial Group Inc. increased its position in Coca-Cola Consolidated by 795.4% in the second quarter. Baird Financial Group Inc. now owns 9,966 shares of the company’s stock worth $1,113,000 after buying an additional 8,853 shares in the last quarter. Marshall Wace LLP increased its position in Coca-Cola Consolidated by 5,152.8% in the second quarter. Marshall Wace LLP now owns 18,910 shares of the company’s stock worth $2,111,000 after buying an additional 18,550 shares in the last quarter. Finally, Cresset Asset Management LLC increased its position in Coca-Cola Consolidated by 169.0% in the second quarter. Cresset Asset Management LLC now owns 4,589 shares of the company’s stock worth $512,000 after buying an additional 2,883 shares in the last quarter. Hedge funds and other institutional investors own 48.24% of the company’s stock.
Analysts Set New Price Targets
Separately, Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy”.
Coca-Cola Consolidated Stock Performance
NASDAQ COKE opened at $170.27 on Friday. The firm has a market cap of $11.33 billion, a price-to-earnings ratio of 23.29 and a beta of 0.61. The company has a quick ratio of 0.91, a current ratio of 1.23 and a debt-to-equity ratio of 0.88. The business has a 50-day moving average price of $194.68 and a 200-day moving average price of $171.58. Coca-Cola Consolidated, Inc. has a twelve month low of $105.21 and a twelve month high of $219.65.
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 firm had revenue of $1.71 billion during the quarter. Coca-Cola Consolidated had a return on equity of 138.44% and a net margin of 7.72%.
Coca-Cola Consolidated Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Friday, April 24th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, April 24th. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. Coca-Cola Consolidated’s dividend payout ratio is presently 13.68%.
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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