Horizon Investments LLC Grows Stake in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Horizon Investments LLC increased its stake in Coca‑Cola Consolidated (NASDAQ:COKE) by 1,655,666.7% in Q4, buying 49,670 shares to hold 49,673 shares worth about $7.60 million (≈0.06% ownership).
• COKE shares opened at $203.92, with a market capitalization of $13.57 billion and a P/E of 29.91; the 52‑week range is $105.21–$219.65 and the 50‑/200‑day moving averages are $197.96 and $168.40, respectively.
• The company reported $2.11 EPS on $1.90 billion in quarterly revenue and announced a quarterly dividend of $0.25 per share (annualized $1.00, yield 0.5%), and Weiss Ratings along with MarketBeat consensus rate the stock as a Buy.

Horizon Investments LLC grew its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 1,655,666.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,673 shares of the company's stock after acquiring an additional 49,670 shares during the quarter. Horizon Investments LLC owned about 0.06% of Coca-Cola Consolidated worth $7,602,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Torren Management LLC purchased a new stake in Coca-Cola Consolidated during the 4th quarter valued at about $29,000. Quarry LP purchased a new position in Coca-Cola Consolidated in the third quarter worth about $25,000. Advisory Services Network LLC bought a new position in shares of Coca-Cola Consolidated in the third quarter worth approximately $25,000. Smartleaf Asset Management LLC lifted its stake in shares of Coca-Cola Consolidated by 175.0% in the third quarter. Smartleaf Asset Management LLC now owns 220 shares of the company's stock worth $26,000 after buying an additional 140 shares in the last quarter. Finally, Root Financial Partners LLC purchased a new stake in shares of Coca-Cola Consolidated during the third quarter valued at approximately $26,000. Hedge funds and other institutional investors own 48.24% of the company's stock.

Coca-Cola Consolidated Trading Down 0.6%

Coca-Cola Consolidated stock opened at $203.92 on Friday. Coca-Cola Consolidated, Inc. has a one year low of $105.21 and a one year high of $219.65. The business's fifty day moving average is $197.96 and its 200 day moving average is $168.40. The stock has a market capitalization of $13.57 billion, a PE ratio of 29.91 and a beta of 0.61. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.26 and a quick ratio of 0.97.

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

Coca-Cola Consolidated Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Friday, April 24th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, April 24th. Coca-Cola Consolidated's payout ratio is presently 14.66%.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "buy (b)" rating on shares of Coca-Cola Consolidated in a research report on Friday, March 27th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, Coca-Cola Consolidated has a consensus rating of "Buy".

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.

Want to see what other hedge funds are holding COKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.