Federated Hermes Inc. Has $16.33 Million Stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Federated Hermes Inc. reduced its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 5.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,588 shares of the company’s stock after selling 931 shares during the quarter. Federated Hermes Inc. owned approximately 0.19% of Coca-Cola Consolidated worth $16,329,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Mackenzie Financial Corp purchased a new stake in Coca-Cola Consolidated in the 4th quarter worth approximately $272,000. Louisiana State Employees Retirement System purchased a new stake in shares of Coca-Cola Consolidated during the fourth quarter worth $1,207,000. Mutual of America Capital Management LLC boosted its position in Coca-Cola Consolidated by 14.5% during the fourth quarter. Mutual of America Capital Management LLC now owns 8,193 shares of the company’s stock valued at $7,606,000 after purchasing an additional 1,037 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Coca-Cola Consolidated in the fourth quarter valued at about $174,971,000. Finally, Nisa Investment Advisors LLC grew its stake in Coca-Cola Consolidated by 48.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 308 shares of the company’s stock valued at $286,000 after purchasing an additional 100 shares in the last quarter. 48.24% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Price Performance

NASDAQ COKE opened at $830.65 on Tuesday. The company has a 50 day moving average price of $834.18 and a two-hundred day moving average price of $800.98. Coca-Cola Consolidated, Inc. has a 12-month low of $552.36 and a 12-month high of $961.91. The stock has a market capitalization of $7.78 billion, a PE ratio of 19.11 and a beta of 0.74. The company has a quick ratio of 1.27, a current ratio of 1.56 and a debt-to-equity ratio of 0.42.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its quarterly earnings data on Wednesday, February 21st. The company reported $13.39 earnings per share (EPS) for the quarter. The firm 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date is Thursday, April 25th. Coca-Cola Consolidated’s dividend payout ratio is 4.60%.

Analysts Set New Price Targets

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

Coca-Cola Consolidated Company Profile

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.