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Almanack Investment Partners LLC. Boosts Stake in Coca-Cola Consolidated, Inc. $COKE

Coca-Cola Consolidated logo with Consumer Staples background

Key Points

  • Almanack Investment Partners LLC significantly increased its stake in Coca-Cola Consolidated, raising its position by 900.8% during the second quarter, bringing its holdings to 3,943 shares valued at approximately $440,000.
  • A variety of institutional investors also bolstered their stakes in Coca-Cola Consolidated with notable increases, including Farther Finance Advisors LLC (27.4%) and Fifth Third Bancorp (40.9%) in the first quarter.
  • Coca-Cola Consolidated has recently received positive analyst upgrades, with ratings changing from "hold" to "buy," reflecting a consensus rating of "Buy" among analysts.
  • Interested in Coca-Cola Consolidated? Here are five stocks we like better.

Almanack Investment Partners LLC. raised its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 900.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,943 shares of the company's stock after buying an additional 3,549 shares during the period. Almanack Investment Partners LLC.'s holdings in Coca-Cola Consolidated were worth $440,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COKE. Farther Finance Advisors LLC boosted its position in Coca-Cola Consolidated by 27.4% in the 1st quarter. Farther Finance Advisors LLC now owns 200 shares of the company's stock valued at $278,000 after buying an additional 43 shares during the last quarter. GAMMA Investing LLC boosted its position in Coca-Cola Consolidated by 29.8% in the 1st quarter. GAMMA Investing LLC now owns 135 shares of the company's stock valued at $182,000 after buying an additional 31 shares during the last quarter. Fifth Third Bancorp boosted its position in Coca-Cola Consolidated by 40.9% in the 1st quarter. Fifth Third Bancorp now owns 62 shares of the company's stock valued at $84,000 after buying an additional 18 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Coca-Cola Consolidated by 29.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,658 shares of the company's stock valued at $2,238,000 after buying an additional 374 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in Coca-Cola Consolidated by 6.1% in the 1st quarter. Exchange Traded Concepts LLC now owns 591 shares of the company's stock valued at $798,000 after buying an additional 34 shares during the last quarter. 48.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Check Out Our Latest Analysis on Coca-Cola Consolidated

Coca-Cola Consolidated Stock Performance

Shares of NASDAQ COKE opened at $124.48 on Monday. 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 firm's 50-day moving average price is $117.42 and its two-hundred day moving average price is $126.07. Coca-Cola Consolidated, Inc. has a 52-week low of $105.21 and a 52-week high of $146.09. The stock has a market capitalization of $10.82 billion, a P/E ratio of 18.57 and a beta of 0.70.

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

Coca-Cola Consolidated Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 0.8%. Coca-Cola Consolidated's payout ratio is currently 14.93%.

About Coca-Cola Consolidated

(Free Report)

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.

See Also

Want to see what other hedge funds are holding COKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report).

Institutional Ownership by Quarter for Coca-Cola Consolidated (NASDAQ:COKE)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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