Coca-Cola Consolidated, Inc. $COKE Shares Bought by Vest Financial LLC

Key Points

• Vest Financial LLC increased its stake in Coca-Cola Consolidated, acquiring 30,368 additional shares, resulting in a total holding of 33,017 shares valued at approximately $3.7 million.
• Institutional investors now hold 48.24% of Coca-Cola Consolidated's stock, with several firms reporting significant percentage increases in their holdings during the 2nd quarter.
• Recent upgrades from analysts, including Weiss Ratings and Wall Street Zen, have improved the consensus rating of Coca-Cola Consolidated from "hold" to "buy".

Vest Financial LLC increased its holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 1,146.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,017 shares of the company's stock after buying an additional 30,368 shares during the quarter. Vest Financial LLC's holdings in Coca-Cola Consolidated were worth $3,686,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of COKE. Beacon Capital Management LLC increased its holdings in Coca-Cola Consolidated by 905.0% in the 2nd quarter. Beacon Capital Management LLC now owns 402 shares of the company's stock worth $45,000 after buying an additional 362 shares during the period. Sound Income Strategies LLC increased its holdings in Coca-Cola Consolidated by 905.0% in the 2nd quarter. Sound Income Strategies LLC now owns 402 shares of the company's stock worth $45,000 after buying an additional 362 shares during the period. Wayfinding Financial LLC acquired a new position in Coca-Cola Consolidated in the 1st quarter worth approximately $46,000. Semmax Financial Advisors Inc. acquired a new position in Coca-Cola Consolidated in the 1st quarter worth approximately $50,000. Finally, Fifth Third Bancorp increased its holdings in Coca-Cola Consolidated by 633.9% in the 2nd quarter. Fifth Third Bancorp now owns 455 shares of the company's stock worth $51,000 after buying an additional 393 shares during the period. Institutional investors and hedge funds own 48.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on COKE shares. Weiss Ratings raised shares of Coca-Cola Consolidated from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Coca-Cola Consolidated from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy".

Coca-Cola Consolidated Price Performance

Coca-Cola Consolidated stock opened at $124.73 on Tuesday. The company's fifty day moving average price is $117.68 and its 200 day moving average price is $126.01. 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 capitalization of $10.84 billion, a P/E ratio of 18.61 and a beta of 0.70. 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 (NASDAQ:COKE - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $2.24 earnings per share (EPS) for the quarter. Coca-Cola Consolidated had a net margin of 8.43% and a return on equity of 44.91%. The firm had revenue of $1.86 billion for the quarter.

Coca-Cola Consolidated Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, October 24th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, October 24th. This represents a $1.00 dividend on an annualized basis and a yield of 0.8%. Coca-Cola Consolidated's dividend payout ratio (DPR) is currently 14.93%.

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.

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