Baird Financial Group Inc. Has $17.49 Million Stock Position in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Baird Financial Group increased its Coca-Cola Consolidated stake by 8.6% in the second quarter, holding 91,598 shares valued at approximately $17.49 million. Institutional investors and hedge funds collectively own 48.24% of the company.
• Coca-Cola Consolidated reported quarterly revenue of $2.05 billion and earnings of $2.83 per share. The stock opened at $192.61, with a 52-week range of $110.60 to $219.65.
• The company paid a quarterly dividend of $0.25 per share, or $1.00 annualized, yielding about 0.5%. Analyst sentiment remains favorable, with a consensus “Buy” rating despite one recent downgrade to “Hold.”

Baird Financial Group Inc. raised its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 8.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 91,598 shares of the company's stock after buying an additional 7,223 shares during the period. Baird Financial Group Inc. owned about 0.14% of Coca-Cola Consolidated worth $17,488,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Coca-Cola Consolidated in the second quarter worth $26,229,118,000. Legal & General Group Plc bought a new position in Coca-Cola Consolidated in the 2nd quarter worth $1,978,267,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Coca-Cola Consolidated in the 2nd quarter worth $1,591,427,000. GQG Partners LLC acquired a new position in Coca-Cola Consolidated during the 2nd quarter worth $1,494,498,000. Finally, Deutsche Bank AG acquired a new position in Coca-Cola Consolidated during the 2nd quarter worth $1,346,125,000. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Consolidated Stock Performance

NASDAQ COKE opened at $192.61 on Friday. The stock's 50 day moving average price is $187.03 and its two-hundred day moving average price is $189.05. The stock has a market capitalization of $12.82 billion, a price-to-earnings ratio of 25.55 and a beta of 0.56. Coca-Cola Consolidated, Inc. has a 52 week low of $110.60 and a 52 week high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 EPS for the quarter. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%.The company had revenue of $2.05 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Friday, July 24th. Coca-Cola Consolidated's dividend payout ratio is presently 13.26%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on COKE shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. Wall Street Zen cut shares of Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Coca-Cola Consolidated currently has a consensus rating of "Buy".

Coca-Cola Consolidated Profile

Coca-Cola Consolidated, Inc is the largest Coca-Cola bottler in the United States. Headquartered in Charlotte, North Carolina, the company manufactures, sells, markets and distributes beverages produced under The Coca-Cola Company's brands, as well as a selection of other beverage products.

Its portfolio includes Coca-Cola, Diet Coke, Coca-Cola Zero Sugar, Sprite, Fanta, DASANI, smartwater, Powerade, Minute Maid, Simply, fairlife and Topo Chico, along with other brands and products available in its distribution territories.

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