Meritage Portfolio Management Grows Stock Position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Meritage Portfolio Management lifted its stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 2.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 743 shares of the company’s stock after buying an additional 15 shares during the period. Meritage Portfolio Management’s holdings in Coca-Cola Consolidated were worth $690,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Xponance Inc. raised its stake in Coca-Cola Consolidated by 1.8% during the 4th quarter. Xponance Inc. now owns 690 shares of the company’s stock valued at $641,000 after buying an additional 12 shares during the last quarter. CWM LLC raised its stake in Coca-Cola Consolidated by 22.2% during the 4th quarter. CWM LLC now owns 66 shares of the company’s stock valued at $61,000 after buying an additional 12 shares during the last quarter. Independent Advisor Alliance increased its stake in shares of Coca-Cola Consolidated by 1.7% in the 3rd quarter. Independent Advisor Alliance now owns 976 shares of the company’s stock worth $621,000 after purchasing an additional 16 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Coca-Cola Consolidated by 1.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 937 shares of the company’s stock worth $870,000 after purchasing an additional 16 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Coca-Cola Consolidated by 1.3% in the 3rd quarter. Arizona State Retirement System now owns 1,429 shares of the company’s stock worth $909,000 after purchasing an additional 19 shares in the last quarter. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Performance

Shares of NASDAQ:COKE traded down $7.23 during midday trading on Friday, hitting $823.75. The company had a trading volume of 17,994 shares, compared to its average volume of 44,851. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.56 and a quick ratio of 1.27. The company has a market cap of $7.72 billion, a price-to-earnings ratio of 19.12 and a beta of 0.74. Coca-Cola Consolidated, Inc. has a 12-month low of $563.38 and a 12-month high of $961.91. The company has a fifty day moving average of $832.57 and a two-hundred day moving average of $804.17.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $13.39 EPS for the quarter. The firm had revenue of $1.63 billion during the quarter. Coca-Cola Consolidated had a return on equity of 44.12% and a net margin of 6.14%.

Coca-Cola Consolidated Announces Dividend

The business 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 $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend is Thursday, April 25th. Coca-Cola Consolidated’s dividend payout ratio (DPR) is presently 4.60%.

Analyst Ratings Changes

Separately, StockNews.com upgraded Coca-Cola Consolidated from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 23rd.

About Coca-Cola Consolidated

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.