Meritage Portfolio Management Has $317,000 Stock Position in Coca-Cola Consolidated, Inc. $COKE

Meritage Portfolio Management lessened its holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 68.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,704 shares of the company’s stock after selling 5,926 shares during the period. Meritage Portfolio Management’s holdings in Coca-Cola Consolidated were worth $317,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in COKE. Norges Bank bought a new stake in Coca-Cola Consolidated during the 2nd quarter worth approximately $280,669,000. Boston Partners grew its holdings in Coca-Cola Consolidated by 942.2% during the second quarter. Boston Partners now owns 2,089,876 shares of the company’s stock worth $233,345,000 after buying an additional 1,889,358 shares in the last quarter. State Street Corp grew its holdings 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 worth $193,050,000 after buying an additional 1,544,516 shares in the last quarter. Diversified Trust Co raised its position in Coca-Cola Consolidated by 900.0% in the 2nd quarter. Diversified Trust Co now owns 1,462,487 shares of the company’s stock valued at $163,287,000 after buying an additional 1,316,233 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Coca-Cola Consolidated by 882.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,302,088 shares of the company’s stock valued at $145,398,000 after acquiring an additional 1,169,611 shares in the last quarter. Institutional investors and hedge funds own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Up 0.4%

Shares of NASDAQ:COKE opened at $151.48 on Friday. The company has a market capitalization of $12.94 billion, a PE ratio of 21.57 and a beta of 0.65. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.04 and a quick ratio of 1.79. The business has a fifty day moving average price of $158.91 and a two-hundred day moving average price of $133.13. Coca-Cola Consolidated, Inc. has a 1 year low of $105.21 and a 1 year high of $169.49.

Coca-Cola Consolidated Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 6th. Shareholders of record on Friday, January 23rd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Friday, January 23rd. Coca-Cola Consolidated’s payout ratio is presently 14.25%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently 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.