Coca-Cola Consolidated, Inc. $COKE Shares Bought by Davis Investment Partners LLC

Key Points

• Davis Investment Partners LLC increased its stake in Coca-Cola Consolidated by 980.0% during the 2nd quarter, owning 5,400 shares valued at $624,000.
• Coca-Cola Consolidated announced a quarterly dividend of $0.25 per share, resulting in an annualized dividend of $1.00 and a yield of 0.8%.
• The company reported $2.24 EPS for the quarter with a revenue of $1.86 billion, along with analyst upgrades to a "buy" rating from Wall Street Zen.

Davis Investment Partners LLC lifted its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 980.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,400 shares of the company's stock after buying an additional 4,900 shares during the quarter. Davis Investment Partners LLC's holdings in Coca-Cola Consolidated were worth $624,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Gallacher Capital Management LLC purchased a new stake in shares of Coca-Cola Consolidated in the 2nd quarter valued at $252,000. Parallel Advisors LLC raised its holdings in shares of Coca-Cola Consolidated by 819.7% in the 2nd quarter. Parallel Advisors LLC now owns 653 shares of the company's stock valued at $73,000 after buying an additional 582 shares during the period. Investors Research Corp raised its holdings in shares of Coca-Cola Consolidated by 900.0% in the 2nd quarter. Investors Research Corp now owns 650 shares of the company's stock valued at $73,000 after buying an additional 585 shares during the period. Voya Investment Management LLC raised its holdings in shares of Coca-Cola Consolidated by 28.4% in the 1st quarter. Voya Investment Management LLC now owns 7,228 shares of the company's stock valued at $9,758,000 after buying an additional 1,598 shares during the period. Finally, Strs Ohio purchased a new stake in shares of Coca-Cola Consolidated in the 1st quarter valued at $1,908,000. Hedge funds and other institutional investors own 48.24% of the company's stock.

Analyst Upgrades and Downgrades

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

Coca-Cola Consolidated Trading Down 1.7%

COKE opened at $121.98 on Monday. Coca-Cola Consolidated, Inc. has a one year low of $105.21 and a one year high of $146.09. The company has a market cap of $10.60 billion, a P/E ratio of 18.20 and a beta of 0.76. 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 business's 50-day simple moving average is $115.87 and its 200-day simple moving average is $128.09.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last released its quarterly earnings data 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 business had revenue of $1.86 billion for the quarter.

Coca-Cola Consolidated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Friday, July 25th were given a $0.25 dividend. The ex-dividend date of this dividend 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 is 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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