Coca-Cola Consolidated, Inc. $COKE Shares Acquired by Mutual of America Capital Management LLC

Key Points

• Mutual of America Capital Management LLC significantly increased its stake in Coca-Cola Consolidated by 924.0%, owning 59,352 shares valued at approximately $6.6 million as of the latest SEC filing.
• Coca-Cola Consolidated announced a quarterly dividend of $0.25, payable on November 7th, with an annualized yield of 0.8% and a payout ratio of 14.93%.
• Analysts have recently upgraded Coca-Cola Consolidated's stock rating from "hold" to "buy," reflecting a positive outlook on the company's performance.

Mutual of America Capital Management LLC increased its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 924.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,352 shares of the company's stock after buying an additional 53,556 shares during the quarter. Mutual of America Capital Management LLC owned about 0.07% of Coca-Cola Consolidated worth $6,627,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wayfinding Financial LLC acquired a new stake in shares of Coca-Cola Consolidated during the first quarter worth $46,000. Semmax Financial Advisors Inc. acquired a new stake in shares of Coca-Cola Consolidated during the first quarter worth $50,000. Allworth Financial LP raised its position in shares of Coca-Cola Consolidated by 58.3% during the first quarter. Allworth Financial LP now owns 57 shares of the company's stock worth $79,000 after purchasing an additional 21 shares during the period. Spire Wealth Management raised its position in shares of 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 purchasing an additional 37 shares during the period. Finally, Cullen Frost Bankers Inc. acquired a new stake in shares of Coca-Cola Consolidated during the first quarter worth $108,000. 48.24% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Consolidated Stock Up 0.7%

NASDAQ:COKE opened at $132.64 on Tuesday. The firm has a market capitalization of $11.53 billion, a price-to-earnings ratio of 19.79 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 current ratio of 2.04, a quick ratio of 1.78 and a debt-to-equity ratio of 0.88. The business's fifty day moving average price is $119.27 and its 200 day moving average price is $125.77.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last issued its earnings results 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 firm had revenue of $1.86 billion for the quarter.

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 $0.25 dividend. The ex-dividend date is Friday, October 24th. This represents a $1.00 dividend on an annualized basis and a yield of 0.8%. Coca-Cola Consolidated's payout ratio is 14.93%.

Analyst Ratings Changes

COKE has been the topic of a number of recent analyst reports. Weiss Ratings raised Coca-Cola Consolidated from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, October 8th. Wall Street Zen raised Coca-Cola Consolidated from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy".

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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