MetLife Investment Advisors LLC lowered its position in Coca-Cola Consolidated Inc (NASDAQ:COKE) by 45.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,932 shares of the company’s stock after selling 1,629 shares during the period. MetLife Investment Advisors LLC’s holdings in Coca-Cola Consolidated were worth $343,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Bank of America Corp DE raised its holdings in shares of Coca-Cola Consolidated by 5.4% during the 4th quarter. Bank of America Corp DE now owns 16,288 shares of the company’s stock valued at $2,889,000 after buying an additional 841 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Coca-Cola Consolidated by 0.5% during the 4th quarter. Principal Financial Group Inc. now owns 37,683 shares of the company’s stock valued at $6,684,000 after buying an additional 204 shares during the period. Geode Capital Management LLC raised its holdings in shares of Coca-Cola Consolidated by 13.5% during the 4th quarter. Geode Capital Management LLC now owns 59,721 shares of the company’s stock valued at $10,593,000 after buying an additional 7,088 shares during the period. Bessemer Group Inc. raised its holdings in shares of Coca-Cola Consolidated by 900.0% during the 4th quarter. Bessemer Group Inc. now owns 9,000 shares of the company’s stock valued at $1,596,000 after buying an additional 8,100 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in shares of Coca-Cola Consolidated during the 4th quarter valued at about $278,000. Institutional investors and hedge funds own 38.25% of the company’s stock.
Shares of NASDAQ:COKE opened at $298.15 on Tuesday. The stock has a market cap of $2.71 billion, a P/E ratio of 57.53 and a beta of 0.76. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 2.48. Coca-Cola Consolidated Inc has a one year low of $125.08 and a one year high of $299.88.
Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings data on Tuesday, February 26th. The company reported $1.82 earnings per share (EPS) for the quarter. Coca-Cola Consolidated had a positive return on equity of 10.40% and a negative net margin of 0.43%. The company had revenue of $1.14 billion for the quarter.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, April 25th. This represents a $1.00 annualized dividend and a yield of 0.34%.
COKE has been the topic of several analyst reports. ValuEngine upgraded Coca-Cola Consolidated from a “hold” rating to a “buy” rating in a report on Friday, December 21st. BidaskClub downgraded Coca-Cola Consolidated from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 20th. Finally, TheStreet downgraded Coca-Cola Consolidated from a “b” rating to a “c+” rating in a report on Wednesday, February 27th.
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Coca-Cola Consolidated Company Profile
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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