Coca-Cola Consolidated, Inc. (NASDAQ:COKE) Shares Sold by Federated Hermes Inc.

Posted by Defense World Staff on Aug 13th, 2023

Federated Hermes Inc. trimmed its holdings in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE – Free Report) by 5.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,052 shares of the company’s stock after selling 1,110 shares during the period. Federated Hermes Inc. owned about 0.22% of Coca-Cola Consolidated worth $11,265,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Hollencrest Capital Management purchased a new stake in Coca-Cola Consolidated in the 4th quarter worth approximately $27,000. HM Payson & Co. purchased a new stake in Coca-Cola Consolidated in the 1st quarter worth approximately $27,000. GPS Wealth Strategies Group LLC purchased a new stake in Coca-Cola Consolidated in the 1st quarter worth approximately $33,000. Larson Financial Group LLC grew its stake in Coca-Cola Consolidated by 204.0% in the 4th quarter. Larson Financial Group LLC now owns 76 shares of the company’s stock worth $39,000 after acquiring an additional 51 shares during the period. Finally, Macquarie Group Ltd. grew its stake in Coca-Cola Consolidated by 34.3% in the 4th quarter. Macquarie Group Ltd. now owns 90 shares of the company’s stock worth $46,000 after acquiring an additional 23 shares during the period. 39.81% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Stock Performance

NASDAQ:COKE opened at $741.60 on Friday. The company has a current ratio of 1.74, a quick ratio of 1.36 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $6.95 billion, a price-to-earnings ratio of 14.59 and a beta of 0.86. The firm’s fifty day simple moving average is $654.08 and its 200 day simple moving average is $594.54. Coca-Cola Consolidated, Inc. has a twelve month low of $405.03 and a twelve month high of $745.53.

Coca-Cola Consolidated Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 11th. Investors of record on Friday, July 28th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $2.00 annualized dividend and a dividend yield of 0.27%. Coca-Cola Consolidated’s payout ratio is 3.93%.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Coca-Cola Consolidated in a report on Thursday, May 18th. They issued a “strong-buy” rating on the stock.

Check Out Our Latest Research Report on COKE

Coca-Cola Consolidated Profile

(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, such as sparling 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.