First Trust Advisors LP Buys 779,915 Shares of Coca-Cola Consolidated, Inc. $COKE

Key Points

• First Trust Advisors LP boosted its stake in Coca‑Cola Consolidated by 119.3% in Q3, buying 779,915 shares to hold 1,433,570 shares (about 1.68% of the company) worth roughly $167.96 million.
• Coca‑Cola Consolidated reported quarterly EPS of $2.11 on $1.90 billion in revenue, trades near $204.39 with a market cap of $13.6 billion and a P/E of about 30, and has a 12‑month range of $105.21–$209.24.
• The company pays a quarterly dividend of $0.25 (annual $1.00, ~0.5% yield) and carries a consensus Buy rating (Weiss Ratings reaffirmed buy); institutional ownership is ~48.24%.

First Trust Advisors LP boosted its stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 119.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,433,570 shares of the company's stock after buying an additional 779,915 shares during the period. First Trust Advisors LP owned approximately 1.68% of Coca-Cola Consolidated worth $167,957,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Smartleaf Asset Management LLC boosted its holdings in shares of Coca-Cola Consolidated by 175.0% during the third quarter. Smartleaf Asset Management LLC now owns 220 shares of the company's stock worth $26,000 after acquiring an additional 140 shares during the period. Root Financial Partners LLC bought a new position in shares of Coca-Cola Consolidated during the third quarter worth approximately $26,000. Nomura Asset Management Co. Ltd. increased its stake in shares of Coca-Cola Consolidated by 900.0% during the second quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the company's stock worth $26,000 after purchasing an additional 207 shares during the period. Newbridge Financial Services Group Inc. lifted its holdings in Coca-Cola Consolidated by 900.0% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company's stock worth $26,000 after purchasing an additional 207 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in Coca-Cola Consolidated by 900.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 250 shares of the company's stock worth $28,000 after purchasing an additional 225 shares during the last quarter. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Coca-Cola Consolidated in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of "Buy".

Coca-Cola Consolidated Stock Performance

NASDAQ COKE opened at $204.39 on Friday. The firm has a 50-day moving average price of $164.16 and a two-hundred day moving average price of $146.84. Coca-Cola Consolidated, Inc. has a 12-month low of $105.21 and a 12-month high of $209.24. The company has a market capitalization of $13.60 billion, a P/E ratio of 29.98 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 (NASDAQ:COKE - Get Free Report) last announced its earnings results on Wednesday, February 18th. The company reported $2.11 EPS for the quarter. Coca-Cola Consolidated had a net margin of 7.89% and a return on equity of 66.42%. The company had revenue of $1.90 billion for the quarter.

Coca-Cola Consolidated Dividend Announcement

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

Coca-Cola Consolidated 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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