Summit Global Investments Boosts Stock Position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

by · The Cerbat Gem

Summit Global Investments lifted its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE – Free Report) by 1.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,414 shares of the company’s stock after purchasing an additional 27 shares during the quarter. Summit Global Investments’ holdings in Coca-Cola Consolidated were worth $1,861,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Coca-Cola Consolidated by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 608,875 shares of the company’s stock valued at $515,358,000 after acquiring an additional 30,443 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Coca-Cola Consolidated by 1,308.6% in the 2nd quarter. Millennium Management LLC now owns 172,788 shares of the company’s stock valued at $187,475,000 after acquiring an additional 160,521 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Coca-Cola Consolidated by 74,390.2% in the 3rd quarter. International Assets Investment Management LLC now owns 152,705 shares of the company’s stock valued at $201,021,000 after acquiring an additional 152,500 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Coca-Cola Consolidated by 88.0% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 112,156 shares of the company’s stock valued at $121,689,000 after acquiring an additional 52,491 shares during the last quarter. Finally, Wallace Capital Management Inc. bought a new stake in shares of Coca-Cola Consolidated in the 2nd quarter valued at about $90,404,000. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Trading Up 3.1 %

NASDAQ COKE opened at $1,224.56 on Friday. Coca-Cola Consolidated, Inc. has a 1-year low of $668.46 and a 1-year high of $1,376.84. The company has a current ratio of 2.47, a quick ratio of 2.15 and a debt-to-equity ratio of 1.39. The stock has a 50-day moving average of $1,270.35 and a 200-day moving average of $1,140.55. The firm has a market cap of $10.73 billion, a PE ratio of 21.31 and a beta of 0.85.

Coca-Cola Consolidated (NASDAQ:COKE – Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $18.81 EPS for the quarter. The business had revenue of $1.77 billion during the quarter. Coca-Cola Consolidated had a return on equity of 46.94% and a net margin of 7.81%.

Coca-Cola Consolidated Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, October 25th were given a dividend of $2.50 per share. This is a positive change from Coca-Cola Consolidated’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, October 25th. This represents a $10.00 dividend on an annualized basis and a yield of 0.82%. Coca-Cola Consolidated’s dividend payout ratio is presently 17.40%.

Coca-Cola Consolidated Profile

(Free Report)

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.

Further Reading

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