Hennessy Advisors Inc. Purchases 4,600 Shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Hennessy Advisors Inc. raised its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 14.1% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 37,256 shares of the company’s stock after acquiring an additional 4,600 shares during the period. Coca-Cola Consolidated comprises 1.3% of Hennessy Advisors Inc.’s portfolio, making the stock its 18th biggest position. Hennessy Advisors Inc. owned about 0.40% of Coca-Cola Consolidated worth $31,534,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of COKE. Quest Partners LLC bought a new stake in shares of Coca-Cola Consolidated during the 4th quarter worth approximately $31,000. CWM LLC raised its stake in Coca-Cola Consolidated by 22.2% in the 4th quarter. CWM LLC now owns 66 shares of the company’s stock valued at $61,000 after acquiring an additional 12 shares during the period. Sunbelt Securities Inc. raised its stake in Coca-Cola Consolidated by 100.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 74 shares of the company’s stock valued at $47,000 after acquiring an additional 37 shares during the period. OLD Point Trust & Financial Services N A bought a new stake in Coca-Cola Consolidated in the 4th quarter valued at $93,000. Finally, Principal Securities Inc. bought a new stake in Coca-Cola Consolidated in the 4th quarter valued at $97,000. Institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Performance

COKE traded down $0.41 during trading hours on Friday, reaching $1,070.47. The company’s stock had a trading volume of 41,307 shares, compared to its average volume of 50,890. Coca-Cola Consolidated, Inc. has a 52 week low of $614.22 and a 52 week high of $1,077.81. The company’s 50-day moving average is $955.18 and its 200-day moving average is $893.49. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.47 and a current ratio of 1.87. The firm has a market cap of $10.03 billion, a PE ratio of 22.05 and a beta of 0.74.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings results on Monday, May 6th. The company reported $17.31 earnings per share for the quarter. Coca-Cola Consolidated had a return on equity of 42.10% and a net margin of 6.83%. The business had revenue of $1.59 billion for the quarter.

Coca-Cola Consolidated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Friday, April 26th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date of this dividend was Thursday, April 25th. Coca-Cola Consolidated’s dividend payout ratio is 4.12%.

Analyst Ratings Changes

Separately, StockNews.com cut Coca-Cola Consolidated from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 23rd.

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.