JPMorgan Chase & Co. Acquires 24,278 Shares of Coca-Cola Consolidated, Inc. $COKE

JPMorgan Chase & Co. grew its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 11.0% in the third quarter, HoldingsChannel.com reports. The fund owned 244,805 shares of the company’s stock after acquiring an additional 24,278 shares during the quarter. JPMorgan Chase & Co.’s holdings in Coca-Cola Consolidated were worth $28,681,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Norges Bank acquired a new position in Coca-Cola Consolidated in the second quarter valued at about $280,669,000. Boston Partners increased its holdings in Coca-Cola Consolidated by 942.2% in the 2nd quarter. Boston Partners now owns 2,089,876 shares of the company’s stock valued at $233,345,000 after buying an additional 1,889,358 shares during the period. State Street Corp raised its position in shares of Coca-Cola Consolidated by 836.9% in the 2nd quarter. State Street Corp now owns 1,729,065 shares of the company’s stock valued at $193,050,000 after buying an additional 1,544,516 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of 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 worth $145,398,000 after acquiring an additional 1,169,611 shares during the period. Finally, AQR Capital Management LLC boosted its position in shares of Coca-Cola Consolidated by 1,270.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,185,937 shares of the company’s stock worth $131,906,000 after acquiring an additional 1,099,421 shares in the last quarter. 48.24% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Consolidated Stock Performance

Shares of Coca-Cola Consolidated stock opened at $202.40 on Friday. The company’s 50 day moving average price is $159.99 and its two-hundred day moving average price is $143.70. The firm has a market capitalization of $13.47 billion, a P/E ratio of 29.69 and a beta of 0.64. Coca-Cola Consolidated, Inc. has a fifty-two week low of $105.21 and a fifty-two week high of $205.00. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.26 and a quick ratio of 0.97.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $2.11 earnings per share (EPS) for the quarter. Coca-Cola Consolidated had a net margin of 7.89% and a return on equity of 66.42%. The company had revenue of $1.90 billion during the quarter.

Coca-Cola Consolidated Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 6th. Stockholders of record on Friday, January 23rd were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Friday, January 23rd. Coca-Cola Consolidated’s payout ratio is 14.66%.

Analyst Ratings Changes

Separately, Weiss Ratings restated 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 MarketBeat.com, Coca-Cola Consolidated presently has a consensus rating of “Buy”.

Coca-Cola Consolidated 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.