Fifth Third Bancorp Has $2.96 Million Position in Coca-Cola Consolidated, Inc. $COKE

Fifth Third Bancorp increased its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 2,517.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,443 shares of the company’s stock after acquiring an additional 14,853 shares during the quarter. Fifth Third Bancorp’s holdings in Coca-Cola Consolidated were worth $2,961,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Coca-Cola Consolidated by 6.4% during the fourth quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company’s stock valued at $871,673,000 after purchasing an additional 341,374 shares during the period. Boston Partners grew its stake in shares of Coca-Cola Consolidated by 7.8% in the 4th quarter. Boston Partners now owns 2,329,643 shares of the company’s stock valued at $357,091,000 after buying an additional 169,555 shares during the period. First Trust Advisors LP boosted its holdings in Coca-Cola Consolidated by 42.1% in the fourth quarter. First Trust Advisors LP now owns 2,037,083 shares of the company’s stock worth $312,285,000 after acquiring an additional 603,513 shares in the last quarter. State Street Corp boosted its holdings in Coca-Cola Consolidated by 836.9% in the second quarter. State Street Corp now owns 1,729,065 shares of the company’s stock worth $193,050,000 after acquiring an additional 1,544,516 shares in the last quarter. Finally, Norges Bank acquired a new stake in Coca-Cola Consolidated in the fourth quarter valued at approximately $222,408,000. 48.24% of the stock is owned by institutional investors.

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 investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, Coca-Cola Consolidated currently has a consensus rating of “Buy”.

Coca-Cola Consolidated Price Performance

NASDAQ COKE opened at $181.97 on Tuesday. The stock has a market capitalization of $12.11 billion, a price-to-earnings ratio of 24.89 and a beta of 0.54. Coca-Cola Consolidated, Inc. has a one year low of $110.40 and a one year high of $219.65. The business’s fifty day moving average is $179.84 and its 200-day moving average is $179.90.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $1.79 earnings per share for the quarter. Coca-Cola Consolidated had a net margin of 7.72% and a return on equity of 138.44%. The company had revenue of $1.71 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 24th will be paid a $0.25 dividend. The ex-dividend date is Friday, July 24th. This represents a $1.00 annualized dividend and a yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio is presently 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.