Boston Partners Raises Stock Holdings 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 boosted its position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 676.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 200,518 shares of the company's stock after purchasing an additional 174,709 shares during the quarter. Boston Partners owned approximately 2.30% of Coca-Cola Consolidated worth $270,711,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Wayfinding Financial LLC purchased a new stake in shares of Coca-Cola Consolidated in the first quarter valued at $46,000. Transce3nd LLC purchased a new stake in shares of Coca-Cola Consolidated in the fourth quarter valued at $63,000. Allworth Financial LP lifted its position in shares of Coca-Cola Consolidated by 58.3% in the first quarter. Allworth Financial LP now owns 57 shares of the company's stock valued at $79,000 after acquiring an additional 21 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Coca-Cola Consolidated by 40.9% in the first quarter. Fifth Third Bancorp now owns 62 shares of the company's stock valued at $84,000 after acquiring an additional 18 shares in the last quarter. Finally, Spire Wealth Management lifted its position in Coca-Cola Consolidated by 115.6% during the first quarter. Spire Wealth Management now owns 69 shares of the company's stock worth $92,000 after buying an additional 37 shares during the period. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Trading Down 1.5%

NASDAQ:COKE traded down $1.67 on Friday, hitting $113.05. 397,915 shares of the stock were exchanged, compared to its average volume of 560,386. The stock has a market cap of $9.82 billion, a PE ratio of 16.87 and a beta of 0.81. The company has a current ratio of 2.04, a quick ratio of 1.78 and a debt-to-equity ratio of 0.88. The stock has a fifty day moving average of $112.44 and a 200-day moving average of $131.04. Coca-Cola Consolidated, Inc. has a fifty-two week low of $105.21 and a fifty-two week high of $146.09.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $2.24 EPS for the quarter. The company had revenue of $1.86 billion during 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 business also recently announced a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Friday, July 25th were paid a $0.25 dividend. The ex-dividend date was Friday, July 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. Coca-Cola Consolidated's dividend payout ratio (DPR) is 14.93%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Coca-Cola Consolidated from a "hold" rating to a "buy" rating in a research 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.