Wright Investors Service Inc. Acquires 2,779 Shares of Coca-Cola Consolidated, Inc. $COKE

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 stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 812.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,121 shares of the company's stock after buying an additional 2,779 shares during the quarter. Wright Investors Service Inc.'s holdings in Coca-Cola Consolidated were worth $348,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of COKE. Deutsche Bank AG lifted its stake in Coca-Cola Consolidated by 14.7% in the fourth quarter. Deutsche Bank AG now owns 708 shares of the company's stock valued at $892,000 after buying an additional 91 shares in the last quarter. Quantinno Capital Management LP lifted its position in shares of Coca-Cola Consolidated by 41.5% in the fourth quarter. Quantinno Capital Management LP now owns 423 shares of the company's stock worth $533,000 after purchasing an additional 124 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Coca-Cola Consolidated by 7.4% in the fourth quarter. ProShare Advisors LLC now owns 276 shares of the company's stock worth $348,000 after purchasing an additional 19 shares in the last quarter. Two Sigma Advisers LP bought a new stake in shares of Coca-Cola Consolidated in the fourth quarter worth $378,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Coca-Cola Consolidated in the fourth quarter worth $1,046,000. Institutional investors own 48.24% of the company's stock.

Analysts Set New Price Targets

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 Stock Down 0.2%

COKE traded down $0.25 during trading on Tuesday, reaching $114.72. 234,989 shares of the stock were exchanged, compared to its average volume of 569,703. The stock has a market cap of $9.97 billion, a P/E ratio of 17.09 and a beta of 0.76. Coca-Cola Consolidated, Inc. has a twelve month low of $105.21 and a twelve month high of $146.09. The stock's 50 day moving average price is $116.16 and its two-hundred day moving average price is $127.26. 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 issued its 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 for the quarter.

Coca-Cola Consolidated Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Friday, July 25th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Friday, July 25th. Coca-Cola Consolidated's payout ratio 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.