Coca-Cola Consolidated, Inc. $COKE Shares Bought by Wright Investors Service Inc.

Key Points

• Wright Investors Service Inc. significantly increased its stake in Coca-Cola Consolidated, raising its position by 812.6% during the second quarter, now owning 3,121 shares worth $348,000.
• Coca-Cola Consolidated reported $2.24 earnings per share and revenue of $1.86 billion for the last quarter, reflecting a net margin of 8.43%.
• The company recently declared a quarterly dividend of $0.25 per share, resulting in an annualized dividend yield of 0.9%.

Wright Investors Service Inc. raised its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 812.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,121 shares of the company's stock after purchasing an additional 2,779 shares during the quarter. Wright Investors Service Inc.'s holdings in Coca-Cola Consolidated were worth $348,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in COKE. Wayfinding Financial LLC acquired a new position in shares of Coca-Cola Consolidated in the 1st quarter worth approximately $46,000. Semmax Financial Advisors Inc. acquired a new stake in shares of Coca-Cola Consolidated in the 1st quarter valued at $50,000. 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 purchasing an additional 585 shares in the last quarter. 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 purchasing an additional 582 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in shares of Coca-Cola Consolidated by 58.3% in the 1st quarter. Allworth Financial LP now owns 57 shares of the company's stock valued at $79,000 after purchasing an additional 21 shares in the last quarter. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Consolidated Stock Performance

Shares of COKE opened at $113.22 on Friday. The company has a 50-day moving average of $116.11 and a two-hundred day moving average of $127.48. The company has a current ratio of 2.04, a quick ratio of 1.78 and a debt-to-equity ratio of 0.88. The stock has a market cap of $9.84 billion, a P/E ratio of 16.89 and a beta of 0.76. Coca-Cola Consolidated, Inc. has a 12-month low of $105.21 and a 12-month high of $146.09.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $2.24 earnings per share for the quarter. The business had revenue of $1.86 billion during 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. Investors of record on Friday, July 25th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, July 25th. This represents a $1.00 annualized dividend and a yield of 0.9%. Coca-Cola Consolidated's dividend payout ratio is 14.93%.

Analyst Upgrades and Downgrades

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

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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