Hsbc Holdings PLC Boosts Stake in Coca-Cola Consolidated, Inc. $COKE

Hsbc Holdings PLC boosted its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 222.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 127,380 shares of the company’s stock after purchasing an additional 87,829 shares during the period. Hsbc Holdings PLC’s holdings in Coca-Cola Consolidated were worth $24,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Ascentis Independent Advisors purchased a new position in Coca-Cola Consolidated during the 1st quarter valued at $31,000. Torren Management LLC purchased a new stake in Coca-Cola Consolidated in the fourth quarter worth $29,000. Morse Asset Management Inc purchased a new stake in Coca-Cola Consolidated in the fourth quarter worth $31,000. Quarry LP bought a new stake in shares of Coca-Cola Consolidated during the third quarter worth $25,000. Finally, Advisory Services Network LLC bought a new stake in shares of Coca-Cola Consolidated during the third quarter worth $25,000. Institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Performance

Coca-Cola Consolidated stock opened at $183.09 on Wednesday. The company has a 50 day moving average price of $180.06 and a 200-day moving average price of $180.11. Coca-Cola Consolidated, Inc. has a fifty-two week low of $110.40 and a fifty-two week high of $219.65. The company has a market capitalization of $12.19 billion, a PE ratio of 25.05 and a beta of 0.54.

Coca-Cola Consolidated (NASDAQ:COKE) last announced 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 firm had revenue of $1.71 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, July 24th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. Coca-Cola Consolidated’s payout ratio is 13.68%.

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 equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy”.

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.