Renaissance Technologies LLC Boosts Stake in Coca-Cola Consolidated, Inc. $COKE

Renaissance Technologies LLC lifted its holdings in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 13.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 382,270 shares of the company’s stock after acquiring an additional 45,300 shares during the quarter. Renaissance Technologies LLC’s holdings in Coca-Cola Consolidated were worth $73,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of COKE. State Street Corp boosted its holdings in shares of Coca-Cola Consolidated by 836.9% during the 2nd quarter. State Street Corp now owns 1,729,065 shares of the company’s stock valued at $193,050,000 after acquiring an additional 1,544,516 shares during the last quarter. Norges Bank bought a new stake in shares of Coca-Cola Consolidated in the fourth quarter worth approximately $222,408,000. AQR Capital Management LLC raised its holdings in shares of Coca-Cola Consolidated by 1,270.8% during the second quarter. AQR Capital Management LLC now owns 1,185,937 shares of the company’s stock valued at $131,906,000 after purchasing an additional 1,099,421 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Coca-Cola Consolidated by 42.1% during the fourth quarter. First Trust Advisors LP now owns 2,037,083 shares of the company’s stock valued at $312,285,000 after purchasing an additional 603,513 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Coca-Cola Consolidated by 153,487.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 417,757 shares of the company’s stock valued at $64,042,000 after purchasing an additional 417,485 shares during the period. Institutional investors own 48.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated 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, According to MarketBeat.com, Coca-Cola Consolidated has an average rating of “Buy”.

Coca-Cola Consolidated Stock Performance

COKE stock opened at $184.70 on Friday. The company has a market cap of $12.29 billion, a price-to-earnings ratio of 25.27 and a beta of 0.54. The business’s 50-day moving average is $181.03 and its two-hundred day moving average is $180.56. Coca-Cola Consolidated, Inc. has a fifty-two week low of $110.40 and a fifty-two week high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE) last released its quarterly 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 business had revenue of $1.71 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Investors 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 yield of 0.5%. The ex-dividend date is Friday, July 24th. Coca-Cola Consolidated’s payout ratio is 13.68%.

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.