Bank of New York Mellon Corp Boosts Stake in Coca-Cola Consolidated, Inc. $COKE

Bank of New York Mellon Corp lifted its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 1.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 417,504 shares of the company’s stock after acquiring an additional 6,063 shares during the period. Bank of New York Mellon Corp’s holdings in Coca-Cola Consolidated were worth $80,052,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Quarry LP purchased a new position in shares of Coca-Cola Consolidated during the 3rd quarter worth about $25,000. Advisory Services Network LLC purchased a new stake in Coca-Cola Consolidated in the third quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. grew its holdings in Coca-Cola Consolidated by 900.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company’s stock valued at $26,000 after purchasing an additional 207 shares during the period. Geneos Wealth Management Inc. increased its position in Coca-Cola Consolidated by 900.0% during the second quarter. Geneos Wealth Management Inc. now owns 250 shares of the company’s stock worth $28,000 after purchasing an additional 225 shares during the last quarter. Finally, Torren Management LLC acquired a new position in Coca-Cola Consolidated during the fourth quarter worth approximately $29,000. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, Coca-Cola Consolidated has a consensus rating of “Buy”.

Coca-Cola Consolidated Trading Up 0.6%

NASDAQ:COKE opened at $183.09 on Wednesday. The firm has a market capitalization of $12.19 billion, a PE ratio of 25.05 and a beta of 0.54. The stock has a 50 day moving average of $180.06 and a 200-day moving average of $180.11. 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) last posted 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 firm had revenue of $1.71 billion for the quarter.

Coca-Cola Consolidated Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Stockholders 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 dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, July 24th. Coca-Cola Consolidated’s dividend payout ratio is currently 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.