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Coca-Cola Consolidated, Inc. - COKE STOCK NEWS

Welcome to our dedicated page for Coca-Cola Consolidated news (Ticker: COKE), a resource for investors and traders seeking the latest updates and insights on Coca-Cola Consolidated stock.

Coca-Cola Consolidated, Inc. (NASDAQ: COKE) is the largest independent Coca-Cola bottler in the United States. Founded in 1902 by J.B. Harrison in Greensboro, North Carolina, the company has grown into a family-operated business with a rich history. Today, it operates under the leadership of J. Frank Harrison, III, the great-grandson of the founder, who became CEO in 1997.

Coca-Cola Consolidated not only makes but also sells and distributes over 250 brands and flavors of nonalcoholic beverages. The company operates in 14 states, primarily in the southeastern U.S., with its corporate headquarters located in Charlotte, North Carolina. The company purchases concentrate and syrups from other beverage manufacturers under license agreements, most notably from Coca-Cola Co. This allows Coca-Cola Consolidated to exclusively produce, market, and distribute Coca-Cola products in designated regions.

The company’s operations are divided into two main segments: Nonalcoholic Beverages, which accounts for the majority of its revenue, and All Other segments. The comprehensive product portfolio includes sparkling beverages, still beverages, energy drinks, and enhanced water products. Key brands include Coca-Cola, Monster, and smartwater.

Committed to community, environmental stewardship, and profitable growth, Coca-Cola Consolidated’s overarching purpose is to

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Coca-Cola Consolidated, the largest Coca-Cola bottler in the United States, announced a third quarter dividend of $0.50 per share for 2024. This dividend applies to both Common Stock and Class B Common Stock. The dividend will be paid on August 9, 2024, to shareholders who are recorded as of the close of business on July 26, 2024.

Headquartered in Charlotte, NC, Coca-Cola Consolidated serves approximately 60 million consumers across 14 states and the District of Columbia. The company is listed on the Nasdaq Global Select Market under the symbol 'COKE'.

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Coca-Cola Consolidated (NASDAQ: COKE) announced the final results of its modified Dutch auction tender offer, which ended on June 18, 2024. The company accepted 14,391.5 shares at $925 each, totaling approximately $13.3 million. This represents 0.2% of the company’s outstanding common stock as of June 18, 2024.

Following the tender offer, Coca-Cola Consolidated will buy 598,619 shares from Carolina Coca-Cola Bottling Investments (CCCBI) for about $553.7 million. This will ensure CCCBI holds 21.5% of the company’s shares post-transaction. The repurchase is expected to close on July 5, 2024.

The company may consider further share repurchases based on market conditions, its business and financial health, and other factors.

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Coca-Cola Consolidated announced the preliminary results of its modified 'Dutch auction' tender offer, which expired on June 18, 2024. A total of 14,392.5 shares were tendered and not withdrawn at or below the purchase price of $925 per share. The company expects to accept these shares for a total cost of approximately $13.3 million. This represents about 0.2% of the outstanding shares as of June 18, 2024. Additionally, Coca-Cola Consolidated plans to repurchase 598,619 shares from Carolina Coca-Cola Bottling Investments, an indirect subsidiary of The Coca-Cola Company, for approximately $553.7 million. CEO J. Frank Harrison, III, expressed satisfaction with the results, interpreting the undersubscribed tender offer as a sign of shareholder confidence. The final numbers are subject to confirmation by the Depositary, with formal announcements and payments expected shortly after.

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Coca-Cola Consolidated (NASDAQ: COKE) has announced the start of a modified 'Dutch auction' tender offer to buy back up to $2.0 billion of its common stock. Shareholders can tender their shares at a price between $850 and $925 per share or opt for a non-specified purchase price. The company will use a mix of cash, credit, and potentially new loans and senior unsecured notes to fund the tender offer. The tender offer will expire on June 18, 2024, unless extended or terminated. The offer is subject to a Financing Condition requiring the company to secure at least $2.5 billion in aggregate proceeds from new term loans or notes. Innisfree M&A will act as information agent and Equiniti Trust as the depositary. The company's Board of Directors has authorized the offer, but no recommendations are provided on whether shareholders should tender their shares.

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Coca-Cola Consolidated reported strong first-quarter results with an increase in income from operations, operating margin, and gross profit. The company plans to repurchase up to $3.1 billion of its Common Stock. Net sales increased by 1%, driven by a price increase and improved volume in the Sparkling category. The company's gross margin improved by 50 basis points, and net income saw a significant improvement. The Company also announced its intention to utilize debt to optimize its balance sheet and return cash to stockholders.

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Coca-Cola Consolidated, Inc. will release its first-quarter 2024 results on May 6, 2024. The announcement will cover the operating performance for the quarter ending March 29, 2024.
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Coca-Cola Consolidated, Inc. (COKE) declares a dividend of $0.50 per share for the second quarter of 2024, payable on May 10, 2024. Shareholders of record as of April 26, 2024, will receive the dividend. Contact details for media and investor inquiries are provided.
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Coca-Cola Consolidated, Inc. (COKE) reports a 4% increase in net sales in Q4 2023, with gross profit up by 7%. Operating profit for FY 2023 rises by 30% to $834 million, with operating margin improving by 220 basis points. Despite a decline in net income, the company remains optimistic about its performance and growth prospects for 2024.
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Coca-Cola Consolidated, Inc. (COKE) is set to release its operating results for Q4 and fiscal year 2023 on February 21, 2024. The press release will be made public after the market closes. For media inquiries, contact Josh Gelinas, and for investor inquiries, contact Scott Anthony.
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Coca-Cola Consolidated, Inc. (NASDAQ: COKE) declares a regular quarterly cash dividend of $0.50 per share and a special cash dividend of $16.00 per share, totaling $150 million. Both dividends are payable on February 9, 2024, to stockholders of record as of January 26, 2024.
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FAQ

What is Coca-Cola Consolidated, Inc.?

Coca-Cola Consolidated, Inc. is the largest independent Coca-Cola bottler in the United States, responsible for making, selling, and distributing over 250 brands and flavors of nonalcoholic beverages.

Where is Coca-Cola Consolidated headquartered?

Coca-Cola Consolidated is headquartered in Charlotte, North Carolina.

Who is the CEO of Coca-Cola Consolidated?

The CEO of Coca-Cola Consolidated is J. Frank Harrison, III, the great-grandson of the company's founder, J.B. Harrison.

What products does Coca-Cola Consolidated distribute?

The company distributes a wide range of nonalcoholic beverages, including sparkling drinks, still beverages, energy drinks, and enhanced water products under over 250 brands and flavors.

How is Coca-Cola Consolidated performing financially?

As of the first half of 2023, Coca-Cola Consolidated reported a 10% increase in net sales to $3.31 billion and a 22% rise in gross profit to $1.30 billion. The company also posted a record high operating margin of 13.4% in the second quarter of 2023.

What are Coca-Cola Consolidated's key markets?

Coca-Cola Consolidated operates in 14 states, primarily in the southeastern United States.

What is the company’s overarching purpose?

Coca-Cola Consolidated's overarching purpose is to "honor God in all we do," which includes commitments to community service, environmental stewardship, and profitable growth.

What recent investments has Coca-Cola Consolidated made?

The company plans to invest significantly in optimizing its supply chain and expanding its product portfolio, including a repurchase of up to $3.1 billion in common stock.

What is the stock symbol for Coca-Cola Consolidated?

The stock symbol for Coca-Cola Consolidated is COKE, and it is traded on the Nasdaq Global Select Market.

How does Coca-Cola Consolidated acquire its beverage concentrate and syrup?

The company purchases concentrate and syrup from other beverage manufacturers, primarily Coca-Cola Co., under license agreements.

Coca-Cola Consolidated, Inc.

Nasdaq:COKE

COKE Rankings

COKE Stock Data

9.49B
8.37M
37.58%
47.19%
1.68%
Soft Drink Manufacturing
Manufacturing
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United States of America
CHARLOTTE