Arrowstreet Capital Limited Partnership Raises Position in Coca-Cola Consolidated, Inc. $COKE

Arrowstreet Capital Limited Partnership boosted its holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 64.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 202,457 shares of the company's stock after purchasing an additional 79,171 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.30% of Coca-Cola Consolidated worth $38,819,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. State Street Corp grew its position in Coca-Cola Consolidated by 836.9% during the 2nd 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 during the last quarter. Norges Bank purchased a new position in shares of Coca-Cola Consolidated in the fourth quarter worth $222,408,000. AQR Capital Management LLC raised its holdings in Coca-Cola Consolidated by 1,270.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,185,937 shares of the company's stock valued at $131,906,000 after buying an additional 1,099,421 shares during the last quarter. First Trust Advisors LP boosted its position in Coca-Cola Consolidated by 42.1% during the 4th quarter. First Trust Advisors LP now owns 2,037,083 shares of the company's stock valued at $312,285,000 after buying an additional 603,513 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted 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 buying an additional 417,485 shares during the period. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Stock Performance

NASDAQ COKE opened at $195.00 on Wednesday. Coca-Cola Consolidated, Inc. has a fifty-two week low of $110.40 and a fifty-two week high of $219.65. The stock has a 50 day simple moving average of $181.75 and a two-hundred day simple moving average of $181.41. The stock has a market cap of $12.98 billion, a P/E ratio of 26.68 and a beta of 0.54.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.79 earnings per share for the quarter. The firm had revenue of $1.71 billion for 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 will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Friday, July 24th. Coca-Cola Consolidated's payout ratio is presently 13.68%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "buy (b)" rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus 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.

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