Bank of New York Mellon Corp Acquires 7,987 Shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Bank of New York Mellon Corp boosted its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 15.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,267 shares of the company's stock after purchasing an additional 7,987 shares during the period. Bank of New York Mellon Corp owned about 0.67% of Coca-Cola Consolidated worth $73,415,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Coca-Cola Consolidated by 18.4% during the 3rd quarter. State Street Corp now owns 172,409 shares of the company's stock valued at $226,959,000 after buying an additional 26,752 shares during the period. Geode Capital Management LLC lifted its holdings in Coca-Cola Consolidated by 16.3% in the third quarter. Geode Capital Management LLC now owns 124,456 shares of the company's stock valued at $163,868,000 after acquiring an additional 17,408 shares during the period. Navellier & Associates Inc. boosted its position in Coca-Cola Consolidated by 67.1% in the fourth quarter. Navellier & Associates Inc. now owns 14,885 shares of the company's stock worth $18,755,000 after purchasing an additional 5,976 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Coca-Cola Consolidated by 133.5% during the 3rd quarter. Franklin Resources Inc. now owns 9,480 shares of the company's stock valued at $12,339,000 after purchasing an additional 5,420 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Coca-Cola Consolidated by 105.6% during the 3rd quarter. Victory Capital Management Inc. now owns 8,142 shares of the company's stock valued at $10,718,000 after purchasing an additional 4,181 shares during the last quarter. Hedge funds and other institutional investors own 48.24% of the company's stock.

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Coca-Cola Consolidated Stock Performance

Shares of COKE traded down $4.38 on Friday, reaching $1,333.17. The company's stock had a trading volume of 20,943 shares, compared to its average volume of 41,796. The stock's 50 day simple moving average is $1,348.97 and its two-hundred day simple moving average is $1,298.10. The company has a debt-to-equity ratio of 1.39, a current ratio of 2.47 and a quick ratio of 2.15. The stock has a market capitalization of $11.62 billion, a P/E ratio of 19.12 and a beta of 0.89. Coca-Cola Consolidated, Inc. has a 12-month low of $800.76 and a 12-month high of $1,460.92.

Coca-Cola Consolidated shares are going to split on the morning of Tuesday, May 27th. The 10-1 split was announced on Tuesday, March 4th. The newly minted shares will be payable to shareholders after the market closes on Friday, May 23rd.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $18.11 EPS for the quarter. The firm had revenue of $1.75 billion for the quarter. Coca-Cola Consolidated had a return on equity of 49.88% and a net margin of 9.18%.

Coca-Cola Consolidated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 24th were paid a $2.50 dividend. The ex-dividend date was Friday, January 24th. This represents a $10.00 dividend on an annualized basis and a dividend yield of 0.75%. Coca-Cola Consolidated's dividend payout ratio (DPR) is presently 14.32%.

Coca-Cola Consolidated Company Profile

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.