Assenagon Asset Management S.A. Purchases Shares of 9,768 Coca-Cola Consolidated, Inc. $COKE

Key Points

• Assenagon Asset Management opened a new position in Coca‑Cola Consolidated in Q4, buying 9,768 shares valued at about $1.497 million.
• Several large institutions (Boston Partners, State Street, First Trust, AQR, Dimensional) materially increased stakes, and institutional ownership stands at 48.24%.
• Coca‑Cola Consolidated has a market cap of $12.76 billion and a P/E of 28.13; last quarter EPS was $2.11, and the company pays a quarterly dividend of $0.25 (annualized yield ~0.5%), with a 12‑month range of $105.21–$219.65.

Assenagon Asset Management S.A. acquired a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,768 shares of the company's stock, valued at approximately $1,497,000.

A number of other hedge funds have also modified their holdings of the company. Boston Partners grew its position in Coca-Cola Consolidated by 3.4% in the third quarter. Boston Partners now owns 2,160,088 shares of the company's stock valued at $253,207,000 after purchasing an additional 70,212 shares in the last quarter. State Street Corp lifted 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 buying an additional 1,544,516 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Coca-Cola Consolidated by 119.3% during the 3rd quarter. First Trust Advisors LP now owns 1,433,570 shares of the company's stock worth $167,957,000 after buying an additional 779,915 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Coca-Cola Consolidated by 15.5% during the 3rd quarter. AQR Capital Management LLC now owns 1,369,718 shares of the company's stock worth $160,476,000 after buying an additional 183,781 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Coca-Cola Consolidated by 9.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,170,476 shares of the company's stock valued at $137,125,000 after acquiring an additional 96,453 shares in the last quarter. 48.24% of the stock is currently owned by institutional investors.

Coca-Cola Consolidated Price Performance

Shares of Coca-Cola Consolidated stock opened at $191.74 on Wednesday. The company has a 50-day simple moving average of $180.87 and a two-hundred day simple moving average of $156.76. The stock has a market capitalization of $12.76 billion, a price-to-earnings ratio of 28.13 and a beta of 0.60. The company has a quick ratio of 0.97, a current ratio of 1.26 and a debt-to-equity ratio of 0.88. Coca-Cola Consolidated, Inc. has a twelve month low of $105.21 and a twelve month high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last released its earnings results on Wednesday, February 18th. The company reported $2.11 earnings per share (EPS) for the quarter. Coca-Cola Consolidated had a return on equity of 66.42% and a net margin of 7.89%.The company had revenue of $1.90 billion for the quarter.

Coca-Cola Consolidated Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 6th. Shareholders of record on Friday, January 23rd were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $1.00 annualized dividend and a yield of 0.5%. Coca-Cola Consolidated's payout ratio is presently 14.66%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a "buy (b)" rating on shares of Coca-Cola Consolidated in a research note on Friday. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, Coca-Cola Consolidated 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.

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