Bantamac Capital LLC purchased a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 7,000 shares of the company's stock, valued at approximately $569,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Coca-Cola Consolidated during the 2nd quarter valued at about $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Coca-Cola Consolidated in the second quarter worth about $1,591,427,000. Deutsche Bank AG purchased a new position in shares of Coca-Cola Consolidated in the second quarter worth approximately $1,346,125,000. Vanguard Group Inc. increased its position in shares of Coca-Cola Consolidated by 6.4% in the fourth quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company's stock worth $871,673,000 after acquiring an additional 341,374 shares in the last quarter. Finally, Boston Partners raised its holdings in shares of Coca-Cola Consolidated by 7.8% during the fourth quarter. Boston Partners now owns 2,329,643 shares of the company's stock valued at $357,091,000 after acquiring an additional 169,555 shares during the period. 48.24% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
COKE has been the subject of several recent analyst reports. Wall Street Zen cut Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Weiss Ratings restated a "buy (b)" rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Coca-Cola Consolidated presently has an average rating of "Buy".
Read Our Latest Stock Report on Coca-Cola Consolidated
Coca-Cola Consolidated Stock Down 1.0%
NASDAQ COKE opened at $186.84 on Thursday. The company has a 50 day moving average price of $184.95 and a two-hundred day moving average price of $185.50. Coca-Cola Consolidated, Inc. has a 12-month low of $110.60 and a 12-month high of $219.65. The stock has a market capitalization of $12.44 billion, a PE ratio of 24.78 and a beta of 0.55.
Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 earnings per share (EPS) for the quarter. Coca-Cola Consolidated had a net margin of 7.15% and a negative return on equity of 1,041.59%. The business had revenue of $2.05 billion during the quarter.
Coca-Cola Consolidated Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, July 24th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. Coca-Cola Consolidated's dividend payout ratio is presently 13.26%.
About Coca-Cola Consolidated
(
Free Report)
Founded in 1902 and headquartered in Charlotte, North Carolina, Coca-Cola Consolidated, Inc is the largest independent bottler of Coca-Cola products in the United States. The company manufactures, sells and distributes a broad portfolio of sparkling and still beverages under exclusive agreements with The Coca-Cola Company. Its brand lineup includes Coca-Cola, Diet Coke, Sprite and Fanta, as well as noncarbonated offerings such as Minute Maid juices, Gold Peak teas, Dasani water, Powerade sports drinks and vitaminwater.
Coca-Cola Consolidated's operations span 14 states and the District of Columbia across the Southeastern, South Central and Mid-Atlantic regions.
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