Axxcess Wealth Management LLC Purchases 1,954 Shares of Coca-Cola Consolidated, Inc. $COKE

Key Points

• Axxcess Wealth Management LLC has increased its stake in Coca-Cola Consolidated, Inc. by 831.5%, purchasing an additional 1,954 shares during the 2nd quarter, bringing their total to 2,189 shares valued at $244,000.
• Institutional investors currently own 48.24% of Coca-Cola Consolidated's stock, indicating significant institutional interest in the company.
• The company will pay a quarterly dividend of $0.25 on November 7, with an annualized yield of 0.8% and a payout ratio of 14.93%.

Axxcess Wealth Management LLC boosted its position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 831.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,189 shares of the company's stock after purchasing an additional 1,954 shares during the period. Axxcess Wealth Management LLC's holdings in Coca-Cola Consolidated were worth $244,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Linden Thomas Advisory Services LLC grew its holdings 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 last quarter. Monument Capital Management grew its holdings 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 last quarter. HBK Sorce Advisory LLC grew its holdings 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 last quarter. CW Advisors LLC grew its holdings 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 last quarter. Finally, Resona Asset Management Co. Ltd. grew its holdings 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 last quarter. 48.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. 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 shares of Coca-Cola Consolidated from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy".

Coca-Cola Consolidated Price Performance

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

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

Coca-Cola Consolidated Dividend Announcement

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