Norges Bank Makes New $222.41 Million Investment in Coca-Cola Consolidated, Inc. $COKE

Norges Bank purchased a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,450,800 shares of the company’s stock, valued at approximately $222,408,000. Norges Bank owned approximately 1.70% of Coca-Cola Consolidated at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Quarry LP purchased a new position in Coca-Cola Consolidated during the third quarter worth approximately $25,000. Advisory Services Network LLC acquired a new position in shares of Coca-Cola Consolidated during the third quarter valued at approximately $25,000. Smartleaf Asset Management LLC raised its holdings in shares of Coca-Cola Consolidated by 175.0% during the third quarter. Smartleaf Asset Management LLC now owns 220 shares of the company’s stock valued at $26,000 after acquiring an additional 140 shares during the last quarter. Newbridge Financial Services Group Inc. raised its holdings in shares of Coca-Cola Consolidated by 900.0% during the second quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company’s stock valued at $26,000 after acquiring an additional 207 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in shares of 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. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Price Performance

NASDAQ:COKE opened at $175.00 on Wednesday. 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 0.91 and a current ratio of 1.23. The stock has a market cap of $11.65 billion, a PE ratio of 23.94 and a beta of 0.55. The stock has a 50 day moving average price of $186.90 and a 200 day moving average price of $174.93.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $1.79 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 business also recently declared a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Friday, April 24th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, April 24th. Coca-Cola Consolidated’s dividend payout ratio (DPR) is currently 13.68%.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy”.

Coca-Cola Consolidated 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.