Franklin Resources Inc. Acquires 17 Shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Franklin Resources Inc. boosted its holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKEFree Report) by 1.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,471 shares of the company’s stock after acquiring an additional 17 shares during the quarter. Franklin Resources Inc.’s holdings in Coca-Cola Consolidated were worth $1,366,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Coca-Cola Consolidated by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 580,785 shares of the company’s stock valued at $369,565,000 after acquiring an additional 19,877 shares in the last quarter. Norges Bank bought a new position in Coca-Cola Consolidated in the 4th quarter valued at approximately $188,138,000. International Assets Investment Management LLC bought a new position in Coca-Cola Consolidated in the 4th quarter valued at approximately $174,971,000. Invesco Ltd. lifted its position in Coca-Cola Consolidated by 4.6% in the 3rd quarter. Invesco Ltd. now owns 114,973 shares of the company’s stock valued at $73,160,000 after acquiring an additional 5,084 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in Coca-Cola Consolidated by 8.6% in the 3rd quarter. AQR Capital Management LLC now owns 92,222 shares of the company’s stock valued at $58,683,000 after acquiring an additional 7,336 shares in the last quarter. 48.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com cut Coca-Cola Consolidated from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 23rd.

Check Out Our Latest Research Report on COKE

Coca-Cola Consolidated Price Performance

NASDAQ COKE opened at $998.80 on Thursday. The business’s fifty day moving average price is $891.23 and its 200-day moving average price is $863.23. The stock has a market capitalization of $9.36 billion, a price-to-earnings ratio of 20.57 and a beta of 0.74. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.87 and a quick ratio of 1.47. Coca-Cola Consolidated, Inc. has a 1-year low of $614.22 and a 1-year high of $1,030.00.

Coca-Cola Consolidated (NASDAQ:COKEGet Free Report) last released its quarterly earnings results on Monday, May 6th. The company reported $17.31 earnings per share for the quarter. The firm had revenue of $1.59 billion for the quarter. Coca-Cola Consolidated had a return on equity of 42.10% and a net margin of 6.83%.

Coca-Cola Consolidated Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Friday, April 26th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $2.00 annualized dividend and a dividend yield of 0.20%. Coca-Cola Consolidated’s payout ratio is 4.12%.

About Coca-Cola Consolidated

(Free Report)

Coca-Cola Consolidated, Inc, together with its subsidiaries, manufactures, markets, and distributes nonalcoholic beverages primarily products of The Coca-Cola Company in the United States. The company offers sparkling beverages; and still beverages, including energy products, as well as noncarbonated beverages comprising bottled water, ready to drink coffee and tea, enhanced water, juices, and sports drinks.

Further Reading

Institutional Ownership by Quarter for Coca-Cola Consolidated (NASDAQ:COKE)

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