L2 Asset Management LLC purchased a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 20,966 shares of the company’s stock, valued at approximately $1,704,000.
Other hedge funds also recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Coca-Cola Consolidated by 8.7% in 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 purchasing an additional 1,385 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised 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. lifted its position in shares of Coca-Cola Consolidated by 795.4% during the 2nd quarter. Baird Financial Group Inc. now owns 9,966 shares of the company’s stock valued at $1,113,000 after buying an additional 8,853 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Coca-Cola Consolidated by 5,152.8% during the 2nd quarter. Marshall Wace LLP now owns 18,910 shares of the company’s stock valued at $2,111,000 after buying an additional 18,550 shares during the last quarter. Finally, Cresset Asset Management LLC grew its stake in shares of Coca-Cola Consolidated by 169.0% during the 2nd quarter. Cresset Asset Management LLC now owns 4,589 shares of the company’s stock worth $512,000 after acquiring an additional 2,883 shares during the period. Institutional investors own 48.24% of the company’s stock.
Coca-Cola Consolidated Trading Up 1.9%
Coca-Cola Consolidated stock opened at $192.60 on Tuesday. Coca-Cola Consolidated, Inc. has a 1-year low of $110.60 and a 1-year high of $219.65. The firm has a market capitalization of $12.82 billion, a price-to-earnings ratio of 25.54 and a beta of 0.55. The firm has a 50 day simple moving average of $185.14 and a 200 day simple moving average of $186.25.
Coca-Cola Consolidated Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Friday, July 24th. Coca-Cola Consolidated’s payout ratio is presently 13.26%.
Analyst Ratings Changes
Several brokerages recently weighed in on COKE. Wall Street Zen lowered Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy”.
Get Our Latest Stock Analysis 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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