Coca-Cola Consolidated approved a 10-for-1 stock split, effective May 27, 2025, enhancing accessibility for investors.
Quiver AI Summary
Coca‑Cola Consolidated, Inc. has announced that its stockholders approved a 10-for-1 stock split, which will take effect on or about May 27, 2025. Following the split, stockholders will receive nine additional shares for each share held. J. Frank Harrison, III, the company's Chairman and CEO, expressed gratitude for the stockholder support, stating that the split aims to make shares more accessible to a wider range of investors. The stock split required an amendment to the company's Restated Certificate of Incorporation, which was also approved by stockholders during the Annual Meeting on May 13, 2025. Further details regarding the stock split are available in the company's proxy statement filed with the SEC.
Potential Positives
- The 10-for-1 stock split has been approved by stockholders, indicating strong shareholder support and confidence in the company's direction.
- The split is expected to make the company's stock more accessible to a broader range of investors, potentially increasing liquidity and market participation.
- The Amendment to increase the number of authorized shares allows for expanded growth opportunities and may enhance flexibility for future capital needs.
Potential Negatives
- The announcement of a stock split may indicate that the company's stock price is perceived as too high, which could raise concerns about its actual market value and financial performance.
- The stock split is often seen as a tactic to boost liquidity and attract more retail investors, which may imply that the company is struggling to gain interest from institutional investors.
- The process of increasing the number of authorized shares could dilute the value of existing shares, potentially impacting shareholder equity adversely.
FAQ
What is the date of Coca-Cola Consolidated's stock split?
The stock split is expected to take place on or about May 27, 2025.
How many additional shares will stockholders receive?
Stockholders will receive nine additional shares for each share currently held.
What type of stock split did Coca-Cola Consolidated approve?
The company approved a 10-for-1 stock split of its Common Stock and Class B Common Stock.
Why did Coca-Cola Consolidated decide to split its stock?
The stock split aims to make shares more accessible to a broader range of investors.
Where can I find more information about the stock split?
Additional information can be found in the Company’s definitive proxy statement filed with the SEC on March 24, 2025.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$COKE Hedge Fund Activity
We have seen 217 institutional investors add shares of $COKE stock to their portfolio, and 223 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- JONES FINANCIAL COMPANIES LLLP added 501,873 shares (+265541.3%) to their portfolio in Q1 2025, for an estimated $677,528,550
- PROFICIO CAPITAL PARTNERS LLC removed 453,306 shares (-99.9%) from their portfolio in Q1 2025, for an estimated $611,963,100
- BOSTON PARTNERS added 174,709 shares (+676.9%) to their portfolio in Q1 2025, for an estimated $235,857,150
- INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC removed 152,705 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $192,406,772
- NORGES BANK removed 80,813 shares (-26.4%) from their portfolio in Q4 2024, for an estimated $101,823,571
- FMR LLC removed 64,738 shares (-49.2%) from their portfolio in Q1 2025, for an estimated $87,396,300
- FIRST TRUST ADVISORS LP added 54,745 shares (+531.6%) to their portfolio in Q1 2025, for an estimated $73,905,750
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
CHARLOTTE, N.C., May 16, 2025 (GLOBE NEWSWIRE) -- Coca‑Cola Consolidated, Inc. (NASDAQ: COKE) today announced that its 10-for-1 split of the Company’s Common Stock and Class B Common Stock has been approved by its stockholders, and shares of the Company’s stock are expected to begin trading on a split-adjusted basis at market open on or about May 27, 2025. On May 23, 2025, stockholders will receive nine additional shares for each share of Common Stock or Class B Common Stock held.
“We are pleased our stockholders supported the 10-for-1 stock split our Board approved earlier this year,” said J. Frank Harrison, III, Chairman and Chief Executive Officer. “We believe this stock split will make our stock more accessible to a broader range of investors.”
The stock split was subject to stockholder approval of an amendment to the Company's Restated Certificate of Incorporation to effect a 10-for-1 forward stock split of the Company’s Common Stock and Class B Common Stock and to proportionally increase the number of authorized shares of Common Stock and Class B Common Stock to accommodate the stock split (the “Amendment”). The Amendment was approved by the Company’s stockholders at its Annual Meeting of Stockholders on May 13, 2025.
Additional information concerning the stock split can be found in the Company’s definitive proxy statement filed with the Securities and Exchange Commission on March 24, 2025.
| CONTACTS: | |
| Brian K. Little (Media) | Matt Blickley (Investors) |
| Vice President, Corporate Communications Officer | Executive Vice President, Chief Financial Officer and Chief Accounting Officer |
| (980) 378-5537 | (704) 557-4910 |
| [email protected] | [email protected] |
About Coca-Cola Consolidated, Inc.
Headquartered in Charlotte, N.C., Coca‑Cola Consolidated (NASDAQ: COKE) is the largest Coca‑Cola bottler in the United States. We make, sell and distribute beverages of The Coca‑Cola Company and other partner companies in more than 300 brands and flavors across 14 states and the District of Columbia, to approximately 60 million consumers. For over 123 years, we have been deeply committed to the consumers, customers and communities we serve and passionate about the broad portfolio of beverages and services we offer. Our Purpose is to honor God in all we do, to serve others, to pursue excellence and to grow profitably.
More information about the Company is available at www.cokeconsolidated.com. Follow Coca‑Cola Consolidated on Facebook, X, Instagram and LinkedIn.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this news release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act. Forward-looking statements include those statements that do not relate strictly to historical or current facts. The words “anticipate,” “believe,” “expect,” “intend,” “project,” “may,” “will,” “should,” “could” and similar expressions are intended to identify forward-looking statements. While the Company has based these forward-looking statements on its current beliefs and expectations, these forward-looking statements are not guarantees and are subject to known and unknown risks, uncertainties and assumptions that may cause the Company’s actual business, financial condition or results of operation to be materially different from those expressed or implied by such forward-looking statements. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”), including the “Risk Factors” section of the Company’s Annual Reports on Form 10-K and other filings the Company makes with the SEC. The Company does not undertake any obligation to update forward-looking statements except as required by applicable law.
