Norges Bank Purchases New Stake in Coca-Cola Consolidated, Inc. $COKE

Norges Bank purchased a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 1,450,800 shares of the company’s stock, valued at approximately $222,408,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its stake in Coca-Cola Consolidated by 320.8% during the third quarter. Envestnet Asset Management Inc. now owns 82,171 shares of the company’s stock worth $9,627,000 after acquiring an additional 62,645 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Coca-Cola Consolidated by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 244,805 shares of the company’s stock worth $28,681,000 after acquiring an additional 24,278 shares during the last quarter. Vanguard Group Inc. increased its stake in Coca-Cola Consolidated by 6.4% during 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 last quarter. Natixis Advisors LLC increased its stake in Coca-Cola Consolidated by 122.1% during 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 last quarter. Finally, HighTower Advisors LLC increased its stake in Coca-Cola Consolidated by 76.8% during the third quarter. HighTower Advisors LLC now owns 18,039 shares of the company’s stock worth $2,114,000 after acquiring an additional 7,834 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 reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy”.

Coca-Cola Consolidated Price Performance

COKE stock opened at $175.00 on Wednesday. The business has a fifty day moving average of $186.90 and a two-hundred day moving average of $174.93. The company has a quick ratio of 0.91, a current ratio of 1.23 and a debt-to-equity ratio of 0.88. The stock has a market cap of $11.65 billion, a price-to-earnings ratio of 23.94 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 52-week low of $105.21 and a 52-week high of $219.65.

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

Coca-Cola Consolidated Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Friday, April 24th were 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 was Friday, April 24th. Coca-Cola Consolidated’s dividend payout ratio (DPR) is currently 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.