The Manufacturers Life Insurance Company Decreases Stake in Coca-Cola Consolidated, Inc. $COKE

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

A number of other large investors have also modified their holdings of COKE. Quarry LP acquired a new stake in shares of Coca-Cola Consolidated in the third quarter valued at about $25,000. Advisory Services Network LLC acquired a new position in Coca-Cola Consolidated during the third quarter worth about $25,000. Newbridge Financial Services Group Inc. boosted its position in Coca-Cola Consolidated by 900.0% during the second quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company’s stock worth $26,000 after acquiring an additional 207 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in Coca-Cola Consolidated by 900.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 250 shares of the company’s stock valued at $28,000 after acquiring an additional 225 shares in the last quarter. Finally, Torren Management LLC purchased a new stake in Coca-Cola Consolidated during the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Wall Street Analyst Weigh In

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

Coca-Cola Consolidated Trading Up 0.1%

Shares of COKE opened at $181.00 on Wednesday. Coca-Cola Consolidated, Inc. has a 12-month low of $110.60 and a 12-month high of $219.65. The firm has a market capitalization of $12.05 billion, a P/E ratio of 24.76 and a beta of 0.55. The firm has a 50-day moving average price of $182.78 and a 200 day moving average price of $182.66.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its earnings results 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 company had revenue of $1.71 billion for the quarter.

Coca-Cola Consolidated Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 24th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend 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%.

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.