Allianz Asset Management GmbH Increases Position in Coca-Cola Consolidated, Inc. $COKE

Allianz Asset Management GmbH raised its stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 944.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 104,453 shares of the company's stock after purchasing an additional 94,449 shares during the quarter. Allianz Asset Management GmbH owned 0.12% of Coca-Cola Consolidated worth $11,662,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of COKE. Diversified Trust Co increased its holdings in shares of Coca-Cola Consolidated by 900.0% in the 2nd quarter. Diversified Trust Co now owns 1,462,487 shares of the company's stock valued at $163,287,000 after purchasing an additional 1,316,233 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in Coca-Cola Consolidated by 265,541.3% during the 1st quarter. Jones Financial Companies Lllp now owns 502,062 shares of the company's stock valued at $677,784,000 after buying an additional 501,873 shares during the last quarter. Truist Financial Corp lifted its stake in shares of Coca-Cola Consolidated by 902.4% during the 2nd quarter. Truist Financial Corp now owns 289,493 shares of the company's stock worth $32,322,000 after purchasing an additional 260,612 shares during the period. Vaughan Nelson Investment Management L.P. increased its stake in shares of Coca-Cola Consolidated by 548.0% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 226,905 shares of the company's stock valued at $25,334,000 after acquiring an additional 191,887 shares during the last quarter. Finally, Kintegral Advisory LLC acquired a new position in Coca-Cola Consolidated during the second quarter worth approximately $20,649,000. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

COKE has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Coca-Cola Consolidated from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Weiss Ratings upgraded Coca-Cola Consolidated from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy".

Coca-Cola Consolidated Price Performance

COKE opened at $132.64 on Tuesday. The company has a quick ratio of 1.78, a current ratio of 2.04 and a debt-to-equity ratio of 0.88. The company's 50-day moving average price is $119.27 and its 200 day moving average price is $125.77. Coca-Cola Consolidated, Inc. has a fifty-two week low of $105.21 and a fifty-two week high of $146.09. The firm has a market cap of $11.53 billion, a price-to-earnings ratio of 19.79 and a beta of 0.70.

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

Coca-Cola Consolidated Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, October 24th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, October 24th. Coca-Cola Consolidated's dividend payout ratio (DPR) is presently 14.93%.

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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