Principal Financial Group Inc. Raises Position in Coca-Cola Consolidated, Inc. $COKE

Principal Financial Group Inc. grew its stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 4.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 126,479 shares of the company’s stock after purchasing an additional 4,831 shares during the period. Principal Financial Group Inc. owned approximately 0.19% of Coca-Cola Consolidated worth $24,251,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of COKE. Quarry LP purchased a new stake in Coca-Cola Consolidated during the 3rd quarter valued at $25,000. Advisory Services Network LLC purchased a new position in Coca-Cola Consolidated during the third quarter worth $25,000. Newbridge Financial Services Group Inc. boosted its stake in Coca-Cola Consolidated by 900.0% during the second quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company’s stock worth $26,000 after buying an additional 207 shares during the period. Geneos Wealth Management Inc. increased its position in Coca-Cola Consolidated by 900.0% during the second quarter. Geneos Wealth Management Inc. now owns 250 shares of the company’s stock valued at $28,000 after acquiring an additional 225 shares during the last quarter. Finally, Torren Management LLC bought a new position in Coca-Cola Consolidated during the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Up 0.7%

Shares of NASDAQ COKE opened at $181.97 on Tuesday. Coca-Cola Consolidated, Inc. has a twelve month low of $110.40 and a twelve month high of $219.65. The firm has a market cap of $12.11 billion, a PE ratio of 24.89 and a beta of 0.54. The business has a fifty day simple moving average of $179.84 and a two-hundred day simple moving average of $179.90.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $1.79 earnings per share (EPS) for the quarter. The business had revenue of $1.71 billion for the quarter. Coca-Cola Consolidated had a return on equity of 138.44% and a net margin of 7.72%.

Coca-Cola Consolidated Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be issued 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 dividend payout ratio is presently 13.68%.

Analyst Upgrades and Downgrades

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, Based on data from MarketBeat, Coca-Cola Consolidated 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.