Vanguard Group Inc. Buys 341,374 Shares of Coca-Cola Consolidated, Inc. $COKE

Key Points

• Vanguard Group Inc. boosted its stake in Coca-Cola Consolidated by 6.4% in Q4, buying 341,374 shares and now owns 5,686,058 shares (about 6.65%) valued at roughly $871.7 million.
• Dividend announced: Coca-Cola Consolidated declared a quarterly dividend of $0.25 per share (annualized $1.00) with an ex-dividend date of April 24 and payment on May 8, implying a 0.5% yield and a 14.66% payout ratio.
• The company reported $2.11 in EPS on $1.90 billion of revenue for the quarter, and trades with a market cap of $13.57 billion and a P/E of about 29.9, with a 52‑week range of $105.21–$219.65.

Vanguard Group Inc. boosted its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 6.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,686,058 shares of the company's stock after buying an additional 341,374 shares during the quarter. Vanguard Group Inc. owned approximately 6.65% of Coca-Cola Consolidated worth $871,673,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Hobbs Group Advisors LLC bought a new position in Coca-Cola Consolidated during the fourth quarter valued at about $561,000. M&T Bank Corp bought a new position in Coca-Cola Consolidated during the fourth quarter valued at about $61,932,000. Latitude Advisors LLC bought a new position in Coca-Cola Consolidated during the fourth quarter valued at about $238,000. Merit Financial Group LLC grew its position in Coca-Cola Consolidated by 45.0% during the fourth quarter. Merit Financial Group LLC now owns 2,575 shares of the company's stock valued at $395,000 after buying an additional 799 shares during the period. Finally, CWM LLC grew its position in Coca-Cola Consolidated by 7.6% during the fourth quarter. CWM LLC now owns 14,393 shares of the company's stock valued at $2,206,000 after buying an additional 1,015 shares during the period. Institutional investors own 48.24% of the company's stock.

Coca-Cola Consolidated Price Performance

COKE opened at $203.92 on Friday. The firm has a market cap of $13.57 billion, a P/E ratio of 29.91 and a beta of 0.61. The firm has a 50-day moving average of $197.96 and a 200 day moving average of $168.40. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.97 and a current ratio of 1.26. Coca-Cola Consolidated, Inc. has a fifty-two week low of $105.21 and a fifty-two week high of $219.65.

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 firm had revenue of $1.90 billion during the quarter. Coca-Cola Consolidated had a net margin of 7.89% and a return on equity of 66.42%.

Coca-Cola Consolidated Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Friday, April 24th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Friday, April 24th. Coca-Cola Consolidated's dividend payout ratio (DPR) is currently 14.66%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a "buy (b)" rating on shares of Coca-Cola Consolidated in a research report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy".

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.