Hsbc Holdings PLC Boosts Stake in Coca-Cola Consolidated, Inc. $COKE

Key Points

• HSBC Holdings PLC increased its stake in Coca-Cola Consolidated by 222.1% in the first quarter, bringing its position to 127,380 shares valued at about $24.3 million.
• Institutional ownership remains significant, with large investors like Vanguard, Boston Partners, First Trust Advisors, State Street, and Norges Bank also adding shares; hedge funds and institutions now own 48.24% of the company.
• Coca-Cola Consolidated reported $1.79 EPS and $1.71 billion in quarterly revenue, and it recently declared a quarterly dividend of $0.25 per share to be paid on August 7.

Hsbc Holdings PLC boosted its position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 222.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 127,380 shares of the company's stock after buying an additional 87,829 shares during the period. Hsbc Holdings PLC owned approximately 0.19% of Coca-Cola Consolidated worth $24,290,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Coca-Cola Consolidated by 6.4% during the 4th quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company's stock worth $871,673,000 after acquiring an additional 341,374 shares in the last quarter. Boston Partners increased its position in Coca-Cola Consolidated by 7.8% in the fourth quarter. Boston Partners now owns 2,329,643 shares of the company's stock worth $357,091,000 after purchasing an additional 169,555 shares during the last quarter. First Trust Advisors LP increased its position in Coca-Cola Consolidated by 42.1% in the fourth quarter. First Trust Advisors LP now owns 2,037,083 shares of the company's stock worth $312,285,000 after purchasing an additional 603,513 shares during the last quarter. State Street Corp raised its stake in Coca-Cola Consolidated by 836.9% during 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 in the last quarter. Finally, Norges Bank purchased a new stake in Coca-Cola Consolidated during the fourth quarter valued at $222,408,000. Hedge funds and other institutional investors own 48.24% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a "buy (b)" rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy".

Coca-Cola Consolidated Price Performance

Shares of COKE stock opened at $183.09 on Wednesday. Coca-Cola Consolidated, Inc. has a 1 year low of $110.40 and a 1 year high of $219.65. The stock's 50 day simple moving average is $180.06 and its two-hundred day simple moving average is $180.11. The company has a market cap of $12.19 billion, a PE ratio of 25.05 and a beta of 0.54.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $1.79 EPS for the quarter. The firm had revenue of $1.71 billion during the quarter. Coca-Cola Consolidated had a return on equity of 138.44% and a net margin of 7.72%.

Coca-Cola Consolidated Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Friday, July 24th. Coca-Cola Consolidated's payout ratio is presently 13.68%.

About Coca-Cola Consolidated

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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