Coca-Cola Consolidated, Inc. $COKE Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 11.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 40,910 shares of the company’s stock after selling 5,191 shares during the quarter. The Manufacturers Life Insurance Company owned 0.06% of Coca-Cola Consolidated worth $7,844,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of Coca-Cola Consolidated during the 3rd quarter valued at about $25,000. Advisory Services Network LLC purchased a new stake in shares of Coca-Cola Consolidated in the third quarter worth about $25,000. Newbridge Financial Services Group Inc. boosted its stake in shares of Coca-Cola Consolidated by 900.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company’s stock worth $26,000 after buying an additional 207 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in Coca-Cola Consolidated by 900.0% during the second quarter. Geneos Wealth Management Inc. now owns 250 shares of the company’s stock worth $28,000 after acquiring an additional 225 shares during the period. Finally, Torren Management LLC acquired a new stake in Coca-Cola Consolidated during the fourth quarter worth about $29,000. 48.24% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Consolidated Stock Performance

COKE stock opened at $181.00 on Wednesday. The firm has a market cap of $12.05 billion, a PE ratio of 24.76 and a beta of 0.55. The firm’s fifty day moving average is $182.78 and its 200 day moving average is $182.66. 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) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.79 earnings per share 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 business also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 24th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, July 24th. Coca-Cola Consolidated’s payout ratio is presently 13.68%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Coca-Cola Consolidated presently has a consensus 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.