HS Management Partners LLC Takes $13.19 Million Position in Coca-Cola Consolidated, Inc. $COKE

Key Points

• HS Management Partners acquired 162,277 shares of Coca-Cola Consolidated worth approximately $13.19 million, making the stock about 4.5% of its portfolio and its 12th-largest holding.
• Institutional ownership remains substantial, with hedge funds and other institutions holding 48.24% of the company; State Street also increased its position by 836.9% during the quarter.
• Coca-Cola Consolidated reported quarterly revenue of $2.05 billion and EPS of $2.83. Analysts maintain an average “Buy” rating, while the company’s quarterly dividend implies $1.00 in annual payments and a 0.5% yield.

HS Management Partners LLC bought a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 162,277 shares of the company's stock, valued at approximately $13,188,000. Coca-Cola Consolidated comprises about 4.5% of HS Management Partners LLC's investment portfolio, making the stock its 12th biggest holding. HS Management Partners LLC owned approximately 0.24% of Coca-Cola Consolidated as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Coca-Cola Consolidated in the 2nd quarter worth about $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Coca-Cola Consolidated in the second quarter worth approximately $1,591,427,000. Deutsche Bank AG acquired a new stake in shares of Coca-Cola Consolidated in the second quarter worth approximately $1,346,125,000. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Coca-Cola Consolidated in the second quarter worth approximately $147,857,000. Finally, State Street Corp grew its holdings in Coca-Cola Consolidated by 836.9% in the second quarter. State Street Corp now owns 1,729,065 shares of the company's stock valued at $193,050,000 after purchasing an additional 1,544,516 shares during the period. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. Wall Street Zen lowered shares of Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Coca-Cola Consolidated currently has an average rating of "Buy".

Coca-Cola Consolidated Stock Performance

Coca-Cola Consolidated stock opened at $188.64 on Wednesday. The stock's 50 day moving average price is $185.03 and its 200 day moving average price is $185.23. The firm has a market capitalization of $12.56 billion, a PE ratio of 25.02 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a one year low of $110.60 and a one year high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 earnings per share (EPS) for the quarter. Coca-Cola Consolidated had a net margin of 7.15% and a negative return on equity of 1,041.59%. The company had revenue of $2.05 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were paid a $0.25 dividend. The ex-dividend date was Friday, July 24th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Coca-Cola Consolidated's dividend payout ratio is 13.26%.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source