Envestnet Asset Management Inc. Raises Stake in Coca-Cola Consolidated, Inc. $COKE

Envestnet Asset Management Inc. grew its stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 320.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 82,171 shares of the company’s stock after acquiring an additional 62,645 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Coca-Cola Consolidated were worth $9,627,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Resona Asset Management Co. Ltd. lifted its stake in Coca-Cola Consolidated by 900.0% during the second quarter. Resona Asset Management Co. Ltd. now owns 4,550 shares of the company’s stock worth $508,000 after purchasing an additional 4,095 shares in the last quarter. CWM LLC raised its holdings in shares of Coca-Cola Consolidated by 209.4% in the 3rd quarter. CWM LLC now owns 13,378 shares of the company’s stock valued at $1,567,000 after buying an additional 9,054 shares during the period. Hsbc Holdings PLC lifted its stake in Coca-Cola Consolidated by 663.7% during the 2nd quarter. Hsbc Holdings PLC now owns 24,889 shares of the company’s stock worth $2,778,000 after acquiring an additional 21,630 shares in the last quarter. Norges Bank purchased a new position in Coca-Cola Consolidated during the 2nd quarter valued at about $280,669,000. Finally, Legal & General Group Plc grew its position in Coca-Cola Consolidated by 911.1% in the 2nd quarter. Legal & General Group Plc now owns 115,463 shares of the company’s stock valued at $12,891,000 after acquiring an additional 104,044 shares in the last quarter. Institutional investors and hedge funds own 48.24% of the company’s stock.

Coca-Cola Consolidated Price Performance

COKE stock opened at $170.29 on Thursday. The business’s 50-day moving average is $156.19 and its two-hundred day moving average is $139.88. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.04 and a quick ratio of 1.79. The firm has a market capitalization of $14.55 billion, a P/E ratio of 24.24 and a beta of 0.64. Coca-Cola Consolidated, Inc. has a 1 year low of $105.21 and a 1 year high of $170.72.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $2.11 EPS for the quarter. Coca-Cola Consolidated had a return on equity of 43.17% and a net margin of 8.66%.

Coca-Cola Consolidated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 6th. Shareholders of record on Friday, January 23rd were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.6%. Coca-Cola Consolidated’s dividend payout ratio is currently 14.25%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Coca-Cola Consolidated currently has a consensus rating of “Buy”.

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.