OP Asset Management Ltd Invests $5.38 Million in Coca-Cola Consolidated, Inc. $COKE

OP Asset Management Ltd acquired a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 28,044 shares of the company’s stock, valued at approximately $5,377,000.

A number of other large investors have also added to or reduced their stakes in COKE. State Street Corp boosted its holdings 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 worth $193,050,000 after acquiring an additional 1,544,516 shares in the last quarter. Norges Bank purchased a new position in shares of Coca-Cola Consolidated in the 4th quarter worth about $222,408,000. AQR Capital Management LLC raised its position in shares of Coca-Cola Consolidated by 1,270.8% in the 2nd 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 boosted its stake in Coca-Cola Consolidated by 119.3% in the 3rd quarter. First Trust Advisors LP now owns 1,433,570 shares of the company’s stock worth $167,957,000 after purchasing an additional 779,915 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in Coca-Cola Consolidated by 153,487.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 417,757 shares of the company’s stock valued at $64,042,000 after purchasing an additional 417,485 shares during the last quarter. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Trading Up 4.9%

Coca-Cola Consolidated stock opened at $188.03 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.23 and a quick ratio of 0.91. Coca-Cola Consolidated, Inc. has a one year low of $109.42 and a one year high of $219.65. The stock has a market capitalization of $12.52 billion, a PE ratio of 25.72 and a beta of 0.55. The business’s fifty day moving average is $182.46 and its 200 day moving average is $177.43.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its earnings results on Wednesday, May 6th. The company reported $1.79 earnings per share for the quarter. The business had revenue of $1.71 billion during the quarter. Coca-Cola Consolidated had a return on equity of 138.44% and a net margin of 7.72%.

Coca-Cola Consolidated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Friday, April 24th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, April 24th. Coca-Cola Consolidated’s payout ratio is presently 13.68%.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy”.

Coca-Cola Consolidated Company Profile

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.