Applied Finance Capital Management LLC Takes Position in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Applied Finance Capital Management LLC acquired a new position in Coca-Cola Consolidated, purchasing 2,070 shares valued at approximately $231,000 in the second quarter.
• Various institutional investors, including Linden Thomas Advisory Services LLC and Monument Capital Management, have also increased their stakes, indicating a collective interest with 48.24% of the stock owned by institutional investors.
• Analysts have upgraded Coca-Cola Consolidated's rating from "hold" to "buy," resulting in a consensus recommendation of "Buy" as the stock approaches a price of $131.68.

Applied Finance Capital Management LLC acquired a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,070 shares of the company's stock, valued at approximately $231,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Linden Thomas Advisory Services LLC increased its position in Coca-Cola Consolidated by 3.5% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 265 shares of the company's stock valued at $358,000 after purchasing an additional 9 shares during the period. Monument Capital Management increased its position in Coca-Cola Consolidated by 0.3% during the 1st quarter. Monument Capital Management now owns 3,955 shares of the company's stock valued at $5,339,000 after purchasing an additional 10 shares during the period. HBK Sorce Advisory LLC increased its position in Coca-Cola Consolidated by 2.9% during the 1st quarter. HBK Sorce Advisory LLC now owns 357 shares of the company's stock valued at $481,000 after purchasing an additional 10 shares during the period. CW Advisors LLC increased its position in Coca-Cola Consolidated by 5.4% during the 1st quarter. CW Advisors LLC now owns 194 shares of the company's stock valued at $262,000 after purchasing an additional 10 shares during the period. Finally, Resona Asset Management Co. Ltd. increased its position in Coca-Cola Consolidated by 2.7% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 455 shares of the company's stock valued at $614,000 after purchasing an additional 12 shares during the period. 48.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on COKE. Weiss Ratings raised shares of Coca-Cola Consolidated from a "hold (c+)" rating to a "buy (b-)" rating in a research report 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 investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy".

Coca-Cola Consolidated Price Performance

Coca-Cola Consolidated stock opened at $131.68 on Friday. The stock has a market capitalization of $11.44 billion, a price-to-earnings ratio of 19.65 and a beta of 0.70. Coca-Cola Consolidated, Inc. has a 52-week low of $105.21 and a 52-week high of $146.09. The stock's 50 day moving average price is $118.91 and its two-hundred day moving average price is $125.84. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.78 and a current ratio of 2.04.

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

Coca-Cola Consolidated Dividend Announcement

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

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.

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