Edgestream Partners L.P. Takes $3.64 Million Position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Edgestream Partners L.P. purchased a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,695 shares of the company's stock, valued at approximately $3,638,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new stake in Coca-Cola Consolidated during the 1st quarter valued at $46,000. Transce3nd LLC acquired a new stake in Coca-Cola Consolidated during the 4th quarter valued at $63,000. Allworth Financial LP increased its holdings in Coca-Cola Consolidated by 58.3% during the 1st quarter. Allworth Financial LP now owns 57 shares of the company's stock valued at $79,000 after purchasing an additional 21 shares in the last quarter. Fifth Third Bancorp increased its holdings in Coca-Cola Consolidated by 40.9% during the 1st quarter. Fifth Third Bancorp now owns 62 shares of the company's stock valued at $84,000 after purchasing an additional 18 shares in the last quarter. Finally, Spire Wealth Management increased its holdings in Coca-Cola Consolidated by 115.6% during the 1st quarter. Spire Wealth Management now owns 69 shares of the company's stock valued at $92,000 after purchasing an additional 37 shares in the last quarter. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Coca-Cola Consolidated from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 10th.

Coca-Cola Consolidated Price Performance

COKE stock traded down $0.12 during midday trading on Friday, reaching $113.36. 570,138 shares of the company's stock traded hands, compared to its average volume of 505,034. The company has a 50-day simple moving average of $132.81 and a two-hundred day simple moving average of $133.47. Coca-Cola Consolidated, Inc. has a 1-year low of $105.21 and a 1-year high of $146.09. The company has a market cap of $9.88 billion, a price-to-earnings ratio of 17.70 and a beta of 0.79. The company has a quick ratio of 1.76, a current ratio of 2.03 and a debt-to-equity ratio of 0.96.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $1.56 EPS for the quarter. The company had revenue of $1.58 billion during the quarter. Coca-Cola Consolidated had a return on equity of 48.35% and a net margin of 8.29%.

Coca-Cola Consolidated Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Friday, July 25th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, July 25th. This represents a $1.00 annualized dividend and a dividend yield of 0.88%. Coca-Cola Consolidated's dividend payout ratio (DPR) is currently 15.60%.

Coca-Cola Consolidated Profile

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.