On September 24, 2023, it was reported that Tributary Capital Management LLC has reduced its holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 2.7% during the second quarter of the year. This information was disclosed in the firm’s most recent Form 13F filing with the Securities and Exchange Commission. After selling 953 shares during the period, Tributary Capital Management LLC now owns 34,593 shares of Coca-Cola Consolidated.
Coca-Cola Consolidated is responsible for approximately 2.0% of Tributary Capital Management LLC’s portfolio, making it their ninth largest holding. According to the most recent SEC filing by the management firm, the value of their stake in Coca-Cola Consolidated is estimated to be worth $22,002,000.
By analyzing Coca-Cola Consolidated’s quarterly earnings data from August 2nd, it was revealed that the company reported earnings per share of $18.43 for that quarter. Additionally, Coca-Cola Consolidated demonstrated a return on equity of 49.77% and a net margin of 7.34%. The firm managed to generate revenue amounting to $1.74 billion during that same quarter.
In conclusion, these recent developments demonstrate changes in investment strategies among prominent firms like Tributary Capital Management LLC and shed light on the financial performance of Coca-Cola Consolidated within the specified time frame. Investors and market analysts can use this information as part of their ongoing stock analysis and decision-making processes regarding Coca-Cola Consolidated’s potential value as an investment opportunity in today’s market conditions.
Coca-Cola Consolidated: Institutional Investors and Hedge Funds Show Confidence in Beverage Industry Leader
Institutional investors and hedge funds have continued to make adjustments to their holdings of Coca-Cola Consolidated, a prominent player in the beverage industry. Norges Bank, for example, recently acquired a new position in the company during the fourth quarter of 2023, investing an impressive $31,757,000. Truist Financial Corp also saw value in Coca-Cola Consolidated and purchased shares worth approximately $32,135,000 during the first quarter.
First Trust Advisors LP took an even more substantial leap by increasing its position in Coca-Cola Consolidated by a staggering 917.9% during the first quarter. This move allowed First Trust Advisors LP to own 52,801 shares of the company’s stock valued at $28,253,000 after buying an additional 47,614 shares.
AQR Capital Management LLC followed suit by lifting its position in Coca-Cola Consolidated by 230.5% during the fourth quarter. AQR Capital Management LLC now holds 67,411 shares worth around $34,539,000 after purchasing an additional 47,017 shares in the last quarter.
Citadel Advisors LLC also recognized potential in Coca-Cola Consolidated and decided to buy new shares during the third quarter valued at approximately $7,706,000. In total, hedge funds and other institutional investors currently own an estimated 39.64% of the company’s stock.
On Friday morning, Coca-Cola Consolidated’s stock opened at $655.26 per share. Over the past year alone, its price has experienced considerable fluctuations ranging from a low of $405.03 to a high of $745.53 per share.
Looking at key financial indicators for Coca-Cola Consolidated reveals insights into its stability and growth potential within the market. The company boasts a debt-to-equity ratio of 0.44 along with quick and current ratios of 1.36 and 1.74 respectively.
With a market capitalization of $6.14 billion, Coca-Cola Consolidated holds considerable value among its competitors. Furthermore, its price-to-earnings ratio (P/E ratio) stands at an impressive 12.89, indicating the company’s relative affordability compared to its earnings potential. Additionally, Coca-Cola Consolidated has exhibited a beta of 0.83, suggesting that it is less volatile than the overall market.
Investors also benefit from knowing that Coca-Cola Consolidated is committed to providing returns through dividend payments. The most recent quarterly dividend was distributed on Friday, August 11th to shareholders of record as of Friday, July 28th. This dividend amounted to $0.50 per share and equates to an annualized dividend of $2.00 with a modest yield of 0.31%. Shareholders who held positions before the ex-dividend date of Thursday, July 27th were eligible for this dividend payment.
These positive developments in Coca-Cola Consolidated’s performance have not gone unnoticed in the investment community. StockNews.com recently assumed coverage on the stock and awarded it a “strong buy” rating, affirming the company’s potential for growth and success.
As investors evaluate their portfolios and consider opportunities for growth and stability within various industries, Coca-Cola Consolidated emerges as an intriguing option in the beverage sector. Its solid financial indicators, supportive institutional investors, and positive ratings make it a compelling choice for those seeking long-term investments with steady returns in today’s perplexing market environment.