Coca-Cola Consolidated, Inc. $COKE Shares Acquired by State of Alaska Department of Revenue

Key Points

• The State of Alaska Department of Revenue significantly increased its stake in Coca-Cola Consolidated, Inc. by 892.6% in the second quarter, now holding 39,435 shares valued at approximately $4.4 million.
• Other institutional investors, like Diversified Trust Co and Jones Financial Companies, also markedly increased their positions, reflecting a growing interest in Coca-Cola Consolidated.
• Wall Street analysts have shifted their outlook on the stock, with Wall Street Zen upgrading it from a "hold" to a "buy" rating recently.

State of Alaska Department of Revenue raised its holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 892.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,435 shares of the company's stock after purchasing an additional 35,462 shares during the quarter. State of Alaska Department of Revenue's holdings in Coca-Cola Consolidated were worth $4,402,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Diversified Trust Co increased its holdings in shares of Coca-Cola Consolidated by 900.0% in the second quarter. Diversified Trust Co now owns 1,462,487 shares of the company's stock valued at $163,287,000 after purchasing an additional 1,316,233 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Coca-Cola Consolidated by 265,541.3% in the 1st quarter. Jones Financial Companies Lllp now owns 502,062 shares of the company's stock worth $677,784,000 after acquiring an additional 501,873 shares during the period. Boston Partners boosted its holdings in shares of Coca-Cola Consolidated by 676.9% in the first quarter. Boston Partners now owns 200,518 shares of the company's stock valued at $270,711,000 after acquiring an additional 174,709 shares in the last quarter. U.S. Capital Wealth Advisors LLC increased its position in Coca-Cola Consolidated by 663.1% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 19,000 shares of the company's stock worth $2,121,000 after purchasing an additional 16,510 shares during the period. Finally, Lord Abbett & CO. LLC purchased a new position in Coca-Cola Consolidated in the first quarter worth $21,557,000. Institutional investors and hedge funds own 48.24% of the company's stock.

Wall Street Analyst Weigh In

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

Coca-Cola Consolidated Price Performance

Shares of NASDAQ:COKE opened at $116.34 on Tuesday. The company has a market cap of $10.11 billion, a P/E ratio of 17.36 and a beta of 0.76. The business has a fifty day simple moving average of $116.42 and a 200-day simple moving average of $126.73. Coca-Cola Consolidated, Inc. has a 52 week low of $105.21 and a 52 week high of $146.09. The company has a quick ratio of 1.78, a current ratio of 2.04 and a debt-to-equity ratio of 0.88.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $2.24 earnings per share (EPS) for the quarter. The firm had revenue of $1.86 billion for 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. Investors of record on Friday, July 25th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Friday, July 25th. Coca-Cola Consolidated's payout ratio is presently 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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