Coca-Cola Consolidated, Inc. $COKE Shares Acquired by Vaughan Nelson Investment Management L.P.

Key Points

• Vaughan Nelson Investment Management L.P. increased its holdings in Coca-Cola Consolidated by 548% in Q2, now owning 226,905 shares worth approximately $25.3 million.
• According to recent analyst reports, Coca-Cola Consolidated's stock was upgraded from a "hold" to a "buy" rating by Wall Street Zen, while Weiss Ratings maintained a "hold (c+)" rating.
• Coca-Cola Consolidated declared a quarterly dividend of $0.25 per share, representing a 0.8% dividend yield based on a payout ratio of 14.93%.

Vaughan Nelson Investment Management L.P. grew its holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 548.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 226,905 shares of the company's stock after buying an additional 191,887 shares during the period. Vaughan Nelson Investment Management L.P. owned 0.26% of Coca-Cola Consolidated worth $25,334,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of COKE. Rhumbline Advisers raised its position in shares of Coca-Cola Consolidated by 1.0% in the first quarter. Rhumbline Advisers now owns 16,086 shares of the company's stock valued at $21,716,000 after buying an additional 159 shares during the last quarter. Vest Financial LLC acquired a new stake in shares of Coca-Cola Consolidated in the first quarter valued at about $3,576,000. Signal Advisors Wealth LLC raised its position in shares of Coca-Cola Consolidated by 9.5% in the first quarter. Signal Advisors Wealth LLC now owns 241 shares of the company's stock valued at $326,000 after buying an additional 21 shares during the last quarter. UMB Bank n.a. increased its position in Coca-Cola Consolidated by 70.6% during the first quarter. UMB Bank n.a. now owns 87 shares of the company's stock worth $117,000 after purchasing an additional 36 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in Coca-Cola Consolidated by 27.4% during the first quarter. Farther Finance Advisors LLC now owns 200 shares of the company's stock worth $278,000 after purchasing an additional 43 shares during the last quarter. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. 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 restated a "hold (c+)" rating on shares of Coca-Cola Consolidated in a research report on Saturday, September 27th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of "Hold".

Coca-Cola Consolidated Price Performance

Shares of COKE opened at $120.65 on Friday. Coca-Cola Consolidated, Inc. has a 1-year low of $105.21 and a 1-year high of $146.09. The stock has a market cap of $10.48 billion, a PE ratio of 18.00 and a beta of 0.70. The firm has a 50-day simple moving average of $116.69 and a two-hundred day simple moving average of $126.41. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.04 and a quick ratio of 1.78.

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

Coca-Cola Consolidated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Friday, July 25th were given a dividend of $0.25 per share. The ex-dividend date was Friday, July 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. Coca-Cola Consolidated's dividend payout ratio (DPR) is currently 14.93%.

Coca-Cola Consolidated 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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