Bank of New York Mellon Corp Purchases 2,545 Shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Bank of New York Mellon Corp grew its holdings in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 4.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 60,812 shares of the company's stock after acquiring an additional 2,545 shares during the period. Bank of New York Mellon Corp owned about 0.70% of Coca-Cola Consolidated worth $82,097,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of COKE. Wayfinding Financial LLC acquired a new position in Coca-Cola Consolidated during the 1st quarter worth about $46,000. Transce3nd LLC bought a new position in shares of Coca-Cola Consolidated during the fourth quarter worth about $63,000. Fifth Third Bancorp lifted its stake in shares of Coca-Cola Consolidated by 40.9% in the first quarter. Fifth Third Bancorp now owns 62 shares of the company's stock worth $84,000 after acquiring an additional 18 shares during the period. Spire Wealth Management boosted its holdings in Coca-Cola Consolidated by 115.6% in the first quarter. Spire Wealth Management now owns 69 shares of the company's stock valued at $92,000 after acquiring an additional 37 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in Coca-Cola Consolidated by 36.7% during the 4th quarter. Signaturefd LLC now owns 82 shares of the company's stock worth $103,000 after purchasing an additional 22 shares during the last quarter. Institutional investors and hedge funds own 48.24% of the company's stock.

Coca-Cola Consolidated Trading Down 0.2%

COKE traded down $0.24 during trading on Friday, reaching $113.94. 458,725 shares of the stock traded hands, compared to its average volume of 502,709. The company has a quick ratio of 1.76, a current ratio of 2.03 and a debt-to-equity ratio of 0.96. The stock's 50-day moving average is $133.27 and its 200 day moving average is $133.78. Coca-Cola Consolidated, Inc. has a 12 month low of $105.21 and a 12 month high of $146.09. The stock has a market capitalization of $9.93 billion, a PE ratio of 17.79 and a beta of 0.79.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $1.56 earnings per share (EPS) for the quarter. Coca-Cola Consolidated had a return on equity of 48.35% and a net margin of 8.29%. The company had revenue of $1.58 billion for the quarter.

Coca-Cola Consolidated Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Friday, July 25th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.88%. Coca-Cola Consolidated's payout ratio is 15.60%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Coca-Cola Consolidated from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 10th.

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.