Hsbc Holdings PLC Takes Position in Coca-Cola Consolidated, Inc. $COKE

Key Points

• HSBC Holdings PLC opened a new position in Coca-Cola Consolidated in the fourth quarter, buying 39,551 shares worth about $6.1 million.
• Other major institutional investors also added to their stakes, and institutions now own about 48.24% of the company’s stock.
• Wall Street sentiment remains positive, with Weiss Ratings reaffirming a buy rating and MarketBeat showing an average analyst rating of Buy.

Hsbc Holdings PLC acquired a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 39,551 shares of the company's stock, valued at approximately $6,109,000. Hsbc Holdings PLC owned about 0.06% of Coca-Cola Consolidated as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in Coca-Cola Consolidated by 11.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 244,805 shares of the company's stock valued at $28,681,000 after acquiring an additional 24,278 shares during the period. Vanguard Group Inc. increased its stake in shares of Coca-Cola Consolidated by 6.4% in the fourth 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 during the period. Natixis Advisors LLC increased its stake in shares of Coca-Cola Consolidated by 122.1% in the third quarter. Natixis Advisors LLC now owns 107,106 shares of the company's stock worth $12,548,000 after acquiring an additional 58,890 shares during the period. L2 Asset Management LLC raised its holdings in shares of Coca-Cola Consolidated by 75.4% during the third quarter. L2 Asset Management LLC now owns 32,446 shares of the company's stock worth $3,801,000 after purchasing an additional 13,943 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in shares of Coca-Cola Consolidated by 6.8% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 574,165 shares of the company's stock worth $88,019,000 after purchasing an additional 36,525 shares during the last quarter. Institutional investors and hedge funds own 48.24% of the company's stock.

Wall Street Analysts Forecast Growth

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

Coca-Cola Consolidated Stock Down 1.0%

COKE opened at $175.78 on Thursday. The firm's fifty day simple moving average is $182.33 and its two-hundred day simple moving average is $178.92. Coca-Cola Consolidated, Inc. has a 52-week low of $109.42 and a 52-week high of $219.65. The company has a market cap of $11.70 billion, a price-to-earnings ratio of 24.05 and a beta of 0.54.

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

Coca-Cola Consolidated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, April 24th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.6%. The ex-dividend date was Friday, April 24th. Coca-Cola Consolidated's payout ratio is 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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