LSV Asset Management Increases Stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

LSV Asset Management raised its stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 10.4% in the fourth quarter, HoldingsChannel reports. The fund owned 53,178 shares of the company’s stock after purchasing an additional 4,990 shares during the period. LSV Asset Management’s holdings in Coca-Cola Consolidated were worth $49,370,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. First Command Advisory Services Inc. purchased a new position in shares of Coca-Cola Consolidated during the 3rd quarter valued at approximately $38,000. Fifth Third Bancorp increased its holdings in Coca-Cola Consolidated by 163.0% in the third quarter. Fifth Third Bancorp now owns 71 shares of the company’s stock valued at $45,000 after buying an additional 44 shares in the last quarter. Sunbelt Securities Inc. raised its position in shares of Coca-Cola Consolidated by 100.0% in the third quarter. Sunbelt Securities Inc. now owns 74 shares of the company’s stock worth $47,000 after acquiring an additional 37 shares during the period. CWM LLC raised its position in shares of Coca-Cola Consolidated by 22.2% in the fourth quarter. CWM LLC now owns 66 shares of the company’s stock worth $61,000 after acquiring an additional 12 shares during the period. Finally, Covestor Ltd boosted its stake in shares of Coca-Cola Consolidated by 40.4% during the 3rd quarter. Covestor Ltd now owns 132 shares of the company’s stock worth $85,000 after acquiring an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Price Performance

Shares of Coca-Cola Consolidated stock traded up $12.37 on Friday, reaching $853.40. The company’s stock had a trading volume of 42,672 shares, compared to its average volume of 36,577. The company has a quick ratio of 1.27, a current ratio of 1.56 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $8.00 billion, a P/E ratio of 19.63 and a beta of 0.73. The stock has a 50-day moving average price of $832.46 and a 200-day moving average price of $813.53. Coca-Cola Consolidated, Inc. has a 52-week low of $610.47 and a 52-week high of $961.91.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $13.39 EPS for the quarter. The company had revenue of $1.63 billion during the quarter. Coca-Cola Consolidated had a net margin of 6.14% and a return on equity of 44.12%.

Coca-Cola Consolidated Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, April 25th. This represents a $2.00 annualized dividend and a dividend yield of 0.23%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is presently 4.60%.

Analyst Ratings Changes

Separately, StockNews.com upgraded Coca-Cola Consolidated from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 23rd.

About Coca-Cola Consolidated

Coca-Cola Consolidated, Inc, together with its subsidiaries, manufactures, markets, and distributes nonalcoholic beverages primarily products of The Coca-Cola Company in the United States. The company offers sparkling beverages; and still beverages, including energy products, as well as noncarbonated beverages comprising bottled water, ready to drink coffee and tea, enhanced water, juices, and sports drinks.