Principal Financial Group Inc. Raises Holdings in Coca-Cola Consolidated, Inc. $COKE

Principal Financial Group Inc. boosted its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 4.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 126,479 shares of the company’s stock after buying an additional 4,831 shares during the period. Principal Financial Group Inc.’s holdings in Coca-Cola Consolidated were worth $24,251,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of COKE. State Street Corp increased its holdings in shares of Coca-Cola Consolidated by 836.9% in the 2nd quarter. State Street Corp now owns 1,729,065 shares of the company’s stock valued at $193,050,000 after acquiring an additional 1,544,516 shares during the period. Norges Bank purchased a new stake in shares of Coca-Cola Consolidated during the 4th quarter worth $222,408,000. AQR Capital Management LLC lifted its stake in shares of Coca-Cola Consolidated by 1,270.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,185,937 shares of the company’s stock worth $131,906,000 after purchasing an additional 1,099,421 shares during the last quarter. First Trust Advisors LP boosted its position in Coca-Cola Consolidated by 42.1% during the fourth quarter. First Trust Advisors LP now owns 2,037,083 shares of the company’s stock valued at $312,285,000 after purchasing an additional 603,513 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Coca-Cola Consolidated by 153,487.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 417,757 shares of the company’s stock valued at $64,042,000 after purchasing an additional 417,485 shares in the last quarter. Institutional investors own 48.24% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy”.

Coca-Cola Consolidated Stock Up 0.7%

COKE opened at $181.97 on Tuesday. The company has a market cap of $12.11 billion, a P/E ratio of 24.89 and a beta of 0.54. The firm’s 50-day moving average price is $179.84 and its 200-day moving average price is $179.90. Coca-Cola Consolidated, Inc. has a 52-week low of $110.40 and a 52-week high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE) last released its earnings results on Wednesday, May 6th. The company reported $1.79 EPS for the quarter. The company had revenue of $1.71 billion during the quarter. Coca-Cola Consolidated had a net margin of 7.72% and a return on equity of 138.44%.

Coca-Cola Consolidated Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is currently 13.68%.

Coca-Cola Consolidated Company Profile

Founded in 1902 and headquartered in Charlotte, North Carolina, Coca-Cola Consolidated, Inc is the largest independent bottler of Coca-Cola products in the United States. The company manufactures, sells and distributes a broad portfolio of sparkling and still beverages under exclusive agreements with The Coca-Cola Company. Its brand lineup includes Coca-Cola, Diet Coke, Sprite and Fanta, as well as noncarbonated offerings such as Minute Maid juices, Gold Peak teas, Dasani water, Powerade sports drinks and vitaminwater.

Coca-Cola Consolidated’s operations span 14 states and the District of Columbia across the Southeastern, South Central and Mid-Atlantic regions.