HS Management Partners LLC Takes $13.19 Million Position in Coca-Cola Consolidated, Inc. $COKE

HS Management Partners LLC bought a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 162,277 shares of the company’s stock, valued at approximately $13,188,000. Coca-Cola Consolidated comprises about 4.5% of HS Management Partners LLC’s investment portfolio, making the stock its 12th biggest holding. HS Management Partners LLC owned approximately 0.24% of Coca-Cola Consolidated as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Coca-Cola Consolidated in the 2nd quarter worth about $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Coca-Cola Consolidated in the second quarter worth approximately $1,591,427,000. Deutsche Bank AG acquired a new stake in shares of Coca-Cola Consolidated in the second quarter worth approximately $1,346,125,000. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Coca-Cola Consolidated in the second quarter worth approximately $147,857,000. Finally, State Street Corp grew its holdings in Coca-Cola Consolidated by 836.9% in the second quarter. State Street Corp now owns 1,729,065 shares of the company’s stock valued at $193,050,000 after purchasing an additional 1,544,516 shares during the period. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. Wall Street Zen lowered shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Coca-Cola Consolidated currently has an average rating of “Buy”.

Coca-Cola Consolidated Stock Performance

Coca-Cola Consolidated stock opened at $188.64 on Wednesday. The stock’s 50 day moving average price is $185.03 and its 200 day moving average price is $185.23. The firm has a market capitalization of $12.56 billion, a PE ratio of 25.02 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a one year low of $110.60 and a one year high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 earnings per share (EPS) for the quarter. Coca-Cola Consolidated had a net margin of 7.15% and a negative return on equity of 1,041.59%. The company had revenue of $2.05 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were paid a $0.25 dividend. The ex-dividend date was Friday, July 24th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio is 13.26%.

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.