Hsbc Holdings PLC Acquires New Shares in Coca-Cola Consolidated, Inc. $COKE

Hsbc Holdings PLC acquired a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 39,551 shares of the company’s stock, valued at approximately $6,109,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp raised its position 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 valued at $193,050,000 after purchasing an additional 1,544,516 shares during the last quarter. Norges Bank bought a new stake in shares of Coca-Cola Consolidated during the fourth quarter worth about $222,408,000. AQR Capital Management LLC grew its holdings in shares of Coca-Cola Consolidated by 1,270.8% during the second quarter. AQR Capital Management LLC now owns 1,185,937 shares of the company’s stock worth $131,906,000 after purchasing an additional 1,099,421 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Coca-Cola Consolidated by 119.3% in the third quarter. First Trust Advisors LP now owns 1,433,570 shares of the company’s stock valued at $167,957,000 after buying an additional 779,915 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Coca-Cola Consolidated by 153,487.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 417,757 shares of the company’s stock valued at $64,042,000 after buying an additional 417,485 shares during the period. Institutional investors and hedge funds own 48.24% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Wednesday. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

Coca-Cola Consolidated Price Performance

Shares of NASDAQ COKE opened at $188.03 on Friday. The firm has a market capitalization of $12.52 billion, a P/E ratio of 25.72 and a beta of 0.55. The firm’s 50-day moving average price is $182.46 and its 200-day moving average price is $177.43. The company has a current ratio of 1.23, a quick ratio of 0.91 and a debt-to-equity ratio of 0.88. Coca-Cola Consolidated, Inc. has a 1-year low of $109.42 and a 1-year high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE) last issued 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 company had revenue of $1.71 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, April 24th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Friday, April 24th. Coca-Cola Consolidated’s dividend payout ratio (DPR) is 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.