Lord Abbett & CO. LLC Buys Shares of 15,968 Coca-Cola Consolidated, Inc. $COKE

Key Points

• Lord Abbett & CO. LLC purchased 15,968 shares of Coca-Cola Consolidated, Inc. valued at approximately $21.6 million, representing about 0.18% ownership of the company.
• Coca-Cola Consolidated recently announced a quarterly dividend of $0.25 per share, yielding 0.9%, with a dividend payout ratio of 14.93%.
• Shares of Coca-Cola Consolidated are currently trading down 1.5% with a market cap of $9.82 billion and a 1-year high of $146.09.

Lord Abbett & CO. LLC bought a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 15,968 shares of the company's stock, valued at approximately $21,557,000. Lord Abbett & CO. LLC owned approximately 0.18% of Coca-Cola Consolidated at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Boston Partners boosted its stake in Coca-Cola Consolidated by 676.9% in the 1st quarter. Boston Partners now owns 200,518 shares of the company's stock worth $270,711,000 after purchasing an additional 174,709 shares during the period. GAMMA Investing LLC boosted its position in shares of Coca-Cola Consolidated by 175,140.4% during the 1st quarter. GAMMA Investing LLC now owns 182,250 shares of the company's stock valued at $246,038,000 after acquiring an additional 182,146 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Coca-Cola Consolidated by 4.4% during the 1st quarter. Bank of New York Mellon Corp now owns 60,812 shares of the company's stock valued at $82,097,000 after acquiring an additional 2,545 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Coca-Cola Consolidated by 2.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 53,442 shares of the company's stock valued at $72,147,000 after acquiring an additional 1,497 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Coca-Cola Consolidated by 27.3% during the 4th quarter. Northern Trust Corp now owns 51,778 shares of the company's stock valued at $65,240,000 after acquiring an additional 11,104 shares during the last quarter. 48.24% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Trading Down 0.5%

COKE traded down $0.6020 during mid-day trading on Thursday, hitting $118.2180. 58,587 shares of the stock were exchanged, compared to its average volume of 563,447. The firm's fifty day moving average is $112.92 and its two-hundred day moving average is $130.69. Coca-Cola Consolidated, Inc. has a 1-year low of $105.21 and a 1-year high of $146.09. The company has a current ratio of 2.04, a quick ratio of 1.78 and a debt-to-equity ratio of 0.88. The company has a market cap of $10.27 billion, a PE ratio of 17.69 and a beta of 0.81.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The company reported $2.24 earnings per share for the quarter. The firm had revenue of $1.86 billion for the quarter. Coca-Cola Consolidated had a return on equity of 44.91% and a net margin of 8.43%.

Coca-Cola Consolidated Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Friday, July 25th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, July 25th. This represents a $1.00 annualized dividend and a dividend yield of 0.8%. Coca-Cola Consolidated's dividend payout ratio is presently 14.93%.

Analyst Ratings Changes

Separately, Wall Street Zen raised Coca-Cola Consolidated from a "hold" rating to a "buy" rating in a report on Saturday, July 26th.

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.