Bank of New York Mellon Corp Decreases Stake in Coca-Cola Consolidated Inc (NASDAQ:COKE)
Bank of New York Mellon Corp lowered its position in Coca-Cola Consolidated Inc (NASDAQ:COKE) by 1.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 54,675 shares of the company’s stock after selling 1,012 shares during the quarter. Bank of New York Mellon Corp owned about 0.58% of Coca-Cola Consolidated worth $12,532,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in COKE. Advisor Group Holdings Inc. purchased a new position in Coca-Cola Consolidated during the 1st quarter valued at about $248,000. Cramer Rosenthal Mcglynn LLC grew its holdings in Coca-Cola Consolidated by 78.1% during the 1st quarter. Cramer Rosenthal Mcglynn LLC now owns 84,908 shares of the company’s stock valued at $17,706,000 after buying an additional 37,243 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Coca-Cola Consolidated by 231.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 15,107 shares of the company’s stock valued at $3,465,000 after buying an additional 10,543 shares in the last quarter. State Street Corp grew its holdings in Coca-Cola Consolidated by 5.2% during the 1st quarter. State Street Corp now owns 144,159 shares of the company’s stock valued at $30,061,000 after buying an additional 7,142 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in Coca-Cola Consolidated by 104.1% during the 1st quarter. AQR Capital Management LLC now owns 11,274 shares of the company’s stock valued at $2,351,000 after buying an additional 5,749 shares in the last quarter. 35.90% of the stock is owned by institutional investors.
A number of research firms have weighed in on COKE. TheStreet raised Coca-Cola Consolidated from a “c” rating to a “b-” rating in a report on Tuesday, August 11th. BidaskClub upgraded Coca-Cola Consolidated from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 9th.
Coca-Cola Consolidated (NASDAQ:COKE) last released its earnings results on Tuesday, August 4th. The company reported $5.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.09 by $2.13. The company had revenue of $1.23 billion during the quarter. Coca-Cola Consolidated had a return on equity of 23.82% and a net margin of 1.18%.
About Coca-Cola Consolidated
Coca-Cola Consolidated, Inc, together with its subsidiaries, produces, markets, and distributes nonalcoholic beverages, primarily products of The Coca-Cola Company in the United States. The company offers sparkling beverages, including carbonated beverages; and still beverages, such as energy products, as well as noncarbonated beverages comprising bottled water, tea, ready to drink coffee, enhanced water, juices, and sports drinks.
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