AQR Capital Management LLC Raises Stock Holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

AQR Capital Management LLC raised its position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 18.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 75,035 shares of the company’s stock after purchasing an additional 11,587 shares during the quarter. AQR Capital Management LLC’s holdings in Coca-Cola Consolidated were worth $80,363,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. UBS Group AG boosted its holdings in shares of Coca-Cola Consolidated by 56.2% during the fourth quarter. UBS Group AG now owns 8,535 shares of the company’s stock worth $7,924,000 after purchasing an additional 3,070 shares during the period. Corient Private Wealth LLC raised its position in Coca-Cola Consolidated by 98.2% during the 4th quarter. Corient Private Wealth LLC now owns 1,203 shares of the company’s stock valued at $1,117,000 after purchasing an additional 596 shares during the last quarter. Quest Partners LLC purchased a new stake in Coca-Cola Consolidated in the 4th quarter worth approximately $31,000. Franklin Resources Inc. grew its position in shares of Coca-Cola Consolidated by 1.2% in the 4th quarter. Franklin Resources Inc. now owns 1,471 shares of the company’s stock worth $1,366,000 after buying an additional 17 shares during the last quarter. Finally, Commerce Bank purchased a new position in shares of Coca-Cola Consolidated during the fourth quarter valued at approximately $231,000. Institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Price Performance

Shares of Coca-Cola Consolidated stock opened at $1,286.41 on Friday. The company has a market cap of $12.06 billion, a PE ratio of 26.49 and a beta of 0.82. The business has a 50 day moving average of $1,260.89 and a 200 day moving average of $1,050.32. Coca-Cola Consolidated, Inc. has a 52 week low of $614.22 and a 52 week high of $1,376.84. The company has a quick ratio of 1.75, a current ratio of 1.97 and a debt-to-equity ratio of 1.50.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $20.71 EPS for the quarter. The business had revenue of $1.80 billion during the quarter. Coca-Cola Consolidated had a net margin of 7.52% and a return on equity of 44.83%.

Coca-Cola Consolidated Increases Dividend

The business also recently disclosed a dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 25th will be issued a $2.50 dividend. The ex-dividend date of this dividend is Friday, October 25th. This is a positive change from Coca-Cola Consolidated’s previous dividend of $0.25. Coca-Cola Consolidated’s dividend payout ratio (DPR) is 20.59%.

Insider Buying and Selling at Coca-Cola Consolidated

In other news, major shareholder Cola Co Coca sold 598,619 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $925.00, for a total value of $553,722,575.00. Following the completion of the transaction, the insider now owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Coca-Cola Consolidated Company Profile

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.