Coca-Cola Consolidated, Inc. $COKE Holdings Boosted by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC significantly increased its stake in Coca-Cola Consolidated, raising its ownership by 863.6% in the second quarter to a total of 18,722 shares valued at approximately $2.09 million.
• Several institutional investors also made substantial increases to their holdings in the company, with notable increases including KG&L Capital Management, which boosted its stake by 3,075.0% to 22,860 shares worth $2.55 million.
• Additionally, Coca-Cola Consolidated declared a quarterly dividend of $0.25 per share, with a payout date set for November 7th, reflecting an annualized yield of 0.8% and a dividend payout ratio of 14.93%.

Janney Montgomery Scott LLC lifted its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 863.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,722 shares of the company's stock after purchasing an additional 16,779 shares during the quarter. Janney Montgomery Scott LLC's holdings in Coca-Cola Consolidated were worth $2,090,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Sound Income Strategies LLC grew its stake in Coca-Cola Consolidated by 905.0% during the 2nd quarter. Sound Income Strategies LLC now owns 402 shares of the company's stock worth $45,000 after buying an additional 362 shares during the last quarter. Independence Bank of Kentucky boosted its holdings in shares of Coca-Cola Consolidated by 900.0% during the second quarter. Independence Bank of Kentucky now owns 5,500 shares of the company's stock valued at $614,000 after acquiring an additional 4,950 shares during the period. Walker Asset Management LLC grew its position in shares of Coca-Cola Consolidated by 900.0% during the second quarter. Walker Asset Management LLC now owns 2,000 shares of the company's stock worth $223,000 after acquiring an additional 1,800 shares during the last quarter. Beacon Capital Management LLC increased its holdings in shares of Coca-Cola Consolidated by 905.0% in the 2nd quarter. Beacon Capital Management LLC now owns 402 shares of the company's stock worth $45,000 after acquiring an additional 362 shares during the period. Finally, KG&L Capital Management LLC lifted its position in Coca-Cola Consolidated by 3,075.0% in the 2nd quarter. KG&L Capital Management LLC now owns 22,860 shares of the company's stock valued at $2,552,000 after purchasing an additional 22,140 shares during the last quarter. Institutional investors own 48.24% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on COKE. Wall Street Zen upgraded shares of Coca-Cola Consolidated from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Weiss Ratings upgraded Coca-Cola Consolidated from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy".

Coca-Cola Consolidated Trading Up 1.0%

Shares of NASDAQ:COKE opened at $124.48 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.78 and a current ratio of 2.04. The stock has a market capitalization of $10.82 billion, a price-to-earnings ratio of 18.57 and a beta of 0.70. Coca-Cola Consolidated, Inc. has a 1-year low of $105.21 and a 1-year high of $146.09. The company has a 50 day moving average price of $117.42 and a 200 day moving average price of $126.13.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last announced its quarterly earnings data 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 company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, October 24th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.8%. Coca-Cola Consolidated's dividend payout ratio (DPR) is currently 14.93%.

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.

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