Boston Partners Increases Stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Key Points

• Boston Partners increased its ownership in Coca-Cola Consolidated by 676.9% during the first quarter, now holding approximately 2.30% of the company valued at $270.7 million.
• Multiple institutional investors also adjusted their stakes, with notable new investments and increases, indicating strong institutional interest in Coca-Cola Consolidated.
• Wall Street analysts upgraded the company from a "hold" to a "buy" rating, reflecting increased confidence in its future performance.

Boston Partners raised its holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 676.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 200,518 shares of the company's stock after acquiring an additional 174,709 shares during the quarter. Boston Partners owned 2.30% of Coca-Cola Consolidated worth $270,711,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in COKE. Prudential PLC purchased a new position in shares of Coca-Cola Consolidated in the 1st quarter valued at about $757,000. Resona Asset Management Co. Ltd. grew its holdings in Coca-Cola Consolidated by 2.7% in the first 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. Independent Advisor Alliance increased its position in shares of Coca-Cola Consolidated by 11.9% in the first quarter. Independent Advisor Alliance now owns 1,094 shares of the company's stock valued at $1,476,000 after buying an additional 116 shares in the last quarter. Nuveen LLC acquired a new position in shares of Coca-Cola Consolidated during the 1st quarter worth $19,346,000. Finally, Townsquare Capital LLC raised its stake in shares of Coca-Cola Consolidated by 34.7% during the 1st quarter. Townsquare Capital LLC now owns 338 shares of the company's stock worth $456,000 after buying an additional 87 shares during the last quarter. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Price Performance

COKE stock traded down $1.67 on Friday, reaching $113.05. The company had a trading volume of 397,915 shares, compared to its average volume of 560,386. The company's fifty day moving average is $112.44 and its 200 day moving average is $131.07. The company has a market cap of $9.82 billion, a P/E ratio of 16.87 and a beta of 0.81. 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, Inc. has a 1 year low of $105.21 and a 1 year high of $146.09.

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

Coca-Cola Consolidated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Friday, July 25th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, July 25th. Coca-Cola Consolidated's payout ratio is currently 14.93%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Coca-Cola Consolidated from a "hold" rating to a "buy" rating in a report on Saturday, July 26th.

Coca-Cola Consolidated Company 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.