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

JPMorgan Chase & Co. raised its stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 11.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 244,805 shares of the company’s stock after buying an additional 24,278 shares during the period. JPMorgan Chase & Co.’s holdings in Coca-Cola Consolidated were worth $28,681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Quarry LP bought a new stake in shares of Coca-Cola Consolidated during the third quarter valued at approximately $25,000. Advisory Services Network LLC bought a new position in Coca-Cola Consolidated in the third quarter worth approximately $25,000. Nomura Asset Management Co. Ltd. increased its holdings in Coca-Cola Consolidated by 900.0% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the company’s stock worth $26,000 after purchasing an additional 207 shares during the period. Root Financial Partners LLC purchased a new position in Coca-Cola Consolidated during the 3rd quarter worth $26,000. Finally, Smartleaf Asset Management LLC raised its position in Coca-Cola Consolidated by 175.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 220 shares of the company’s stock valued at $26,000 after purchasing an additional 140 shares in the last quarter. 48.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Monday, December 29th. One 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 Trading Down 6.5%

NASDAQ:COKE opened at $188.39 on Tuesday. Coca-Cola Consolidated, Inc. has a one year low of $105.21 and a one year high of $219.65. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.97 and a current ratio of 1.26. The firm has a market cap of $12.54 billion, a P/E ratio of 27.64 and a beta of 0.60. The firm has a 50-day simple moving average of $176.88 and a 200-day simple moving average of $154.10.

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

Coca-Cola Consolidated Dividend Announcement

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

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.