15,968 Shares in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) Purchased by Lord Abbett & CO. LLC

Key Points

• Lord Abbett & CO. LLC purchased 15,968 shares of Coca-Cola Consolidated, Inc. valued at approximately $21.6 million, representing about 0.18% ownership of the company.
• Coca-Cola Consolidated recently announced a quarterly dividend of $0.25 per share, yielding 0.9%, with a dividend payout ratio of 14.93%.
• Shares of Coca-Cola Consolidated are currently trading down 1.5% with a market cap of $9.82 billion and a 1-year high of $146.09.

Lord Abbett & CO. LLC acquired a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 15,968 shares of the company's stock, valued at approximately $21,557,000. Lord Abbett & CO. LLC owned about 0.18% of Coca-Cola Consolidated at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wayfinding Financial LLC acquired a new stake in Coca-Cola Consolidated during the first quarter worth about $46,000. Transce3nd LLC acquired a new stake in Coca-Cola Consolidated during the fourth quarter worth about $63,000. Allworth Financial LP increased its position in Coca-Cola Consolidated by 58.3% during the first quarter. Allworth Financial LP now owns 57 shares of the company's stock worth $79,000 after purchasing an additional 21 shares during the last quarter. Fifth Third Bancorp boosted its stake in Coca-Cola Consolidated by 40.9% during the first quarter. Fifth Third Bancorp now owns 62 shares of the company's stock worth $84,000 after buying an additional 18 shares during the period. Finally, Spire Wealth Management boosted its stake in Coca-Cola Consolidated by 115.6% during the first quarter. Spire Wealth Management now owns 69 shares of the company's stock worth $92,000 after buying an additional 37 shares during the period. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Consolidated Trading Down 1.5%

Shares of COKE stock opened at $113.05 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.04 and a quick ratio of 1.78. The firm has a market cap of $9.82 billion, a PE ratio of 16.87 and a beta of 0.81. The company has a 50-day moving average of $112.44 and a two-hundred day moving average of $131.07. Coca-Cola Consolidated, Inc. has a 1-year low of $105.21 and a 1-year high of $146.09.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $2.24 earnings per share for the quarter. The company had revenue of $1.86 billion during the quarter. Coca-Cola Consolidated had a net margin of 8.43% and a return on equity of 44.91%.

Coca-Cola Consolidated Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Friday, July 25th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Friday, July 25th. Coca-Cola Consolidated's dividend payout ratio (DPR) is 14.93%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Coca-Cola Consolidated from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th.

About Coca-Cola Consolidated

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.

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