Coca-Cola Bottling Co. (COKE) Stake Boosted by Prudential Financial Inc.
Prudential Financial Inc. raised its position in Coca-Cola Bottling Co. (NASDAQ:COKE) by 30.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,555 shares of the company’s stock after buying an additional 6,970 shares during the period. Prudential Financial Inc. owned approximately 0.32% of Coca-Cola Bottling worth $4,358,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of COKE. Teacher Retirement System of Texas raised its position in shares of Coca-Cola Bottling by 14.2% in the second quarter. Teacher Retirement System of Texas now owns 706 shares of the company’s stock valued at $104,000 after buying an additional 88 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in shares of Coca-Cola Bottling by 38.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 724 shares of the company’s stock valued at $107,000 after buying an additional 200 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Coca-Cola Bottling by 91.5% in the first quarter. Royal Bank of Canada now owns 906 shares of the company’s stock valued at $145,000 after buying an additional 433 shares in the last quarter. Princeton Alpha Management LP acquired a new stake in shares of Coca-Cola Bottling during the second quarter valued at $251,000. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of Coca-Cola Bottling by 19.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 1,722 shares of the company’s stock valued at $254,000 after buying an additional 286 shares in the last quarter. 39.43% of the stock is currently owned by institutional investors.
Coca-Cola Bottling Co. (NASDAQ:COKE) opened at 140.35 on Monday. The company’s 50 day moving average is $146.77 and its 200-day moving average is $147.04. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 36.88 and a beta of 0.05. Coca-Cola Bottling Co. has a 1-year low of $119.80 and a 1-year high of $217.13.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, October 28th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, October 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.71%. Coca-Cola Bottling’s payout ratio is 26.39%.
Separately, TheStreet upgraded Coca-Cola Bottling from a “hold” rating to a “buy” rating in a research note on Tuesday, August 9th.
Coca-Cola Bottling Company Profile
Coca-Cola Bottling Co Consolidated produces, markets and distributes nonalcoholic beverages, primarily products of The Coca-Cola Company, which include beverage brands. The Company is an independent Coca-Cola bottler in the United States. The Company’s segments are Nonalcoholic Beverages and All Other.
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