Davis Investment Partners LLC Has $624,000 Holdings in Coca-Cola Consolidated, Inc. $COKE

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 holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 980.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund 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 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Wayfinding Financial LLC bought a new position in shares of Coca-Cola Consolidated during the 1st quarter valued at about $46,000. Semmax Financial Advisors Inc. bought a new position in shares of Coca-Cola Consolidated during the 1st quarter valued at about $50,000. Allworth Financial LP boosted its holdings in shares of Coca-Cola Consolidated by 58.3% in the first quarter. Allworth Financial LP now owns 57 shares of the company's stock worth $79,000 after buying an additional 21 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Coca-Cola Consolidated by 40.9% in the first quarter. Fifth Third Bancorp now owns 62 shares of the company's stock worth $84,000 after buying an additional 18 shares during the period. Finally, Spire Wealth Management boosted its holdings in shares of Coca-Cola Consolidated by 115.6% in the first quarter. Spire Wealth Management now owns 69 shares of the company's stock worth $92,000 after buying an additional 37 shares during the period. 48.24% of the stock is currently owned by institutional investors.

Coca-Cola Consolidated Stock Performance

Shares of NASDAQ:COKE traded up $0.65 on Friday, hitting $112.56. 521,968 shares of the company were exchanged, compared to its average volume of 558,441. The company's 50 day moving average price is $116.12 and its two-hundred day moving average price is $127.62. The firm has a market capitalization of $9.78 billion, a price-to-earnings ratio of 16.78 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. Coca-Cola Consolidated, Inc. has a one year low of $105.21 and a one year high of $146.09.

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

Coca-Cola Consolidated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Friday, July 25th were paid 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 0.9%. Coca-Cola Consolidated's dividend payout ratio is 14.93%.

Analyst Ratings Changes

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

About Coca-Cola Consolidated

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.