American Century Companies Inc. Boosts Stock Holdings in Coca-Cola Consolidated, Inc. $COKE
American Century Companies Inc. increased its stake in Coca-Cola Consolidated, Inc. by 1,099.7% in Q2, owning 167,600 shares valued at $18.7 million. This move is part of a broader trend of institutional investors adjusting their positions in the company. Coca-Cola Consolidated's stock performance shows a market cap of $13.89 billion and a recent upgrade to a 'buy' rating by Weiss Ratings.
American Century Companies Inc. grew its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 1,099.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 167,600 shares of the company's stock after acquiring an additional 153,630 shares during the quarter. American Century Companies Inc. owned about 0.19% of Coca-Cola Consolidated worth $18,713,000 as of its most recent SEC filing.
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A number of other institutional investors have also recently made changes to their positions in COKE. Avantax Advisory Services Inc. lifted its holdings in Coca-Cola Consolidated by 18.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 237 shares of the company's stock valued at $319,000 after purchasing an additional 37 shares in the last quarter. Cetera Investment Advisers raised its position in shares of Coca-Cola Consolidated by 1.6% in the first quarter. Cetera Investment Advisers now owns 1,806 shares of the company's stock valued at $2,439,000 after buying an additional 28 shares during the last quarter. LPL Financial LLC raised its position in shares of Coca-Cola Consolidated by 3.8% in the first quarter. LPL Financial LLC now owns 5,324 shares of the company's stock valued at $7,187,000 after buying an additional 197 shares during the last quarter. Bank of Nova Scotia purchased a new position in shares of Coca-Cola Consolidated in the first quarter worth about $1,202,000. Finally, ING Groep NV acquired a new position in Coca-Cola Consolidated during the first quarter worth about $1,080,000. 48.24% of the stock is owned by institutional investors and hedge funds.
Coca-Cola Consolidated Stock Performance
Shares of COKE stock opened at $162.54 on Wednesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.79 and a current ratio of 2.04. The firm has a market cap of $13.89 billion, a P/E ratio of 23.14 and a beta of 0.63. The firm's 50 day moving average price is $137.53 and its 200-day moving average price is $129.64. Coca-Cola Consolidated, Inc. has a one year low of $105.21 and a one year high of $166.21.
Coca-Cola Consolidated Announces Dividend
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The company also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Friday, October 24th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, October 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.6%. Coca-Cola Consolidated's payout ratio is presently 14.25%.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings upgraded shares of Coca-Cola Consolidated from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy".
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Check Out Our Latest Analysis on COKE
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.
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