On August 18, 2023, it was reported that Bessemer Group Inc. had decreased its holdings in Coca-Cola Consolidated, Inc. by 16.4% during the first quarter of this year. According to their disclosure with the Securities and Exchange Commission (SEC), Bessemer Group Inc. now owns approximately 56,313 shares of Coca-Cola Consolidated, representing a reduction of 11,077 shares. This amounts to approximately 0.60% ownership of the company’s stock and is valued at $30,132,000 based on the recent filing.
Coca-Cola Consolidated, Inc., along with its subsidiaries, is primarily engaged in the manufacturing, marketing, and distribution of nonalcoholic beverages in the United States. The company focuses on products from The Coca-Cola Company and offers a wide range of beverages to consumers. This includes sparkling beverages such as carbonated drinks and still beverages such as energy products, bottled water, ready-to-drink coffee and tea, enhanced water, juices, and sports drinks.
In addition to these developments regarding Bessemer Group Inc.’s reduction in holdings, Coca-Cola Consolidated recently announced its quarterly dividend payout. The dividend was paid on Friday, August 11th to stockholders who were recorded as being shareholders on Friday, July 28th. Each share received a dividend worth $0.50 per share. This equates to an annualized dividend payment of $2.00 per share and a dividend yield of 0.29%. The ex-dividend date for this particular payment was Thursday, July 27th.
Coca-Cola Consolidated has demonstrated a modest dividend payout ratio of 3.93%, which indicates that it allocates just under 4% of its earnings towards dividends for shareholders.
This news highlights both financial changes within the company as well as its commitment to returning value to investors through dividends. As one of the leading nonalcoholic beverage manufacturers and distributors in the United States, Coca-Cola Consolidated continues to navigate an ever-evolving market and adapt to consumer preferences. With its diverse portfolio of products and a focus on quality, the company strives to maintain its position as a trusted provider of beverages for consumers across the nation.
Coca-Cola Consolidated, Inc.
Updated on: 01/03/2024
Debt to equity ratio: Neutral
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
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Investor Interest and Strong Performance Drive Growth for Coca-Cola Consolidated
Coca-Cola Consolidated, Inc., a leading manufacturer and distributor of nonalcoholic beverages, has seen several large investors buying and selling shares of the company. HM Payson & Co., Hollencrest Capital Management, GPS Wealth Strategies Group LLC, Larson Financial Group LLC, and Macquarie Group Ltd. are among the notable investors who have recently acquired stakes in Coca-Cola Consolidated.
In the first quarter, HM Payson & Co. purchased a new stake valued at approximately $27,000. Similarly, Hollencrest Capital Management entered the market in the fourth quarter with an investment of around $27,000. GPS Wealth Strategies Group LLC followed suit in the first quarter by acquiring a stake valued at approximately $33,000. It is worth noting that Larson Financial Group LLC significantly increased its stake in Coca-Cola Consolidated by 204% during the fourth quarter. They now own 76 shares of the company’s stock worth $39,000 after purchasing an additional 51 shares in the last quarter. Finally, Macquarie Group Ltd., one of the world’s largest investment banks, increased its position by 34.3% during the same period. Their stake now stands at 90 shares valued at $46,000 after acquiring an additional 23 shares.
These investments from institutional investors and hedge funds contribute to a substantial ownership percentage of 39.81% in Coca-Cola Consolidated’s stock.
On Friday, COKE stock opened at $689.88. The firm has shown consistent performance with a fifty-day moving average of $657.29 and a two-hundred-day moving average of $599.72. The company maintains strong financial stability with a quick ratio of 1.36 and current ratio of 1.74 indicating its ability to meet short-term obligations efficiently. Furthermore, Coca-Cola Consolidated has managed its debt prudently with a debt-to-equity ratio well below industry averages at 0.44. Over the past year, the stock has experienced significant growth, reaching a 12-month high of $745.53.
With a market capitalization of $6.46 billion, Coca-Cola Consolidated continues to be an attractive investment choice for many due to its consistent performance and strong financial standing. The company boasts a price-to-earnings ratio of 13.57, indicating undervaluation considering its potential future earnings growth. Additionally, Coca-Cola Consolidated has a beta of 0.86, suggesting that its stock is relatively less volatile compared to the broader market.
As a manufacturer, marketer, and distributor of nonalcoholic beverages in the United States, Coca-Cola Consolidated offers a wide range of products under the Coca-Cola brand umbrella. Its portfolio includes various sparkling beverages as well as still beverages like energy drinks, bottled water, ready-to-drink coffee and tea, enhanced water, juices, and sports drinks.
In recognition of its promising prospects and current standing in the market, StockNews.com initiated coverage on Coca-Cola Consolidated with a “strong-buy” rating for the company in their recent research report.
Investors interested in long-term growth potential within the nonalcoholic beverage industry may find Coca-Cola Consolidated an appealing investment opportunity based on its solid financial performance and positive analyst rating.
To stay updated on the latest analysis and news about COKE stock, readers are encouraged to visit our website regularly for comprehensive coverage.