CORDA Investment Management LLC. bought a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE – Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 409,756 shares of the company’s stock, valued at approximately $33,301,000. Coca-Cola Consolidated comprises approximately 2.0% of CORDA Investment Management LLC.’s investment portfolio, making the stock its 23rd biggest holding.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Coca-Cola Consolidated by 8.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,251 shares of the company’s stock valued at $23,289,000 after buying an additional 1,385 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Coca-Cola Consolidated by 1,587.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 270 shares of the company’s stock valued at $30,000 after buying an additional 254 shares during the period. Baird Financial Group Inc. grew its position in Coca-Cola Consolidated by 795.4% during the second quarter. Baird Financial Group Inc. now owns 9,966 shares of the company’s stock worth $1,113,000 after buying an additional 8,853 shares in the last quarter. Marshall Wace LLP grew its position in Coca-Cola Consolidated by 5,152.8% during the second quarter. Marshall Wace LLP now owns 18,910 shares of the company’s stock worth $2,111,000 after buying an additional 18,550 shares in the last quarter. Finally, Cresset Asset Management LLC increased its stake in Coca-Cola Consolidated by 169.0% during the second quarter. Cresset Asset Management LLC now owns 4,589 shares of the company’s stock valued at $512,000 after acquiring an additional 2,883 shares during the period. 48.24% of the stock is currently owned by institutional investors and hedge funds.
Coca-Cola Consolidated Stock Down 0.6%
Shares of COKE opened at $189.11 on Friday. The stock has a market cap of $12.59 billion, a price-to-earnings ratio of 25.08 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 12 month low of $110.60 and a 12 month high of $219.65. The company has a 50-day moving average price of $184.81 and a two-hundred day moving average price of $184.46.
Coca-Cola Consolidated Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, July 24th. This represents a $1.00 annualized dividend and a yield of 0.5%. Coca-Cola Consolidated’s payout ratio is currently 13.26%.
Wall Street Analyst Weigh In
Several equities analysts have commented on COKE shares. Wall Street Zen cut Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy”.
Get Our Latest Research Report on Coca-Cola Consolidated
Coca-Cola Consolidated Profile
Founded in 1902 and headquartered in Charlotte, North Carolina, Coca-Cola Consolidated, Inc is the largest independent bottler of Coca-Cola products in the United States. The company manufactures, sells and distributes a broad portfolio of sparkling and still beverages under exclusive agreements with The Coca-Cola Company. Its brand lineup includes Coca-Cola, Diet Coke, Sprite and Fanta, as well as noncarbonated offerings such as Minute Maid juices, Gold Peak teas, Dasani water, Powerade sports drinks and vitaminwater.
Coca-Cola Consolidated’s operations span 14 states and the District of Columbia across the Southeastern, South Central and Mid-Atlantic regions.
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