Coca-Cola Consolidated, Inc. $COKE Shares Acquired by Jones Financial Companies Lllp

Key Points

• Jones Financial Companies increased its ownership in Coca-Cola Consolidated by an astonishing 265,541.3%, now holding 502,062 shares valued at approximately $677.78 million.
• Coca-Cola Consolidated reported $2.24 earnings per share and $1.86 billion in revenue for the latest quarter, with a return on equity of 44.91%.
• The company recently declared a quarterly dividend of $0.25 per share, resulting in an annualized dividend yield of 0.8%.

Jones Financial Companies Lllp boosted its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 265,541.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 502,062 shares of the company's stock after acquiring an additional 501,873 shares during the quarter. Coca-Cola Consolidated accounts for 0.6% of Jones Financial Companies Lllp's investment portfolio, making the stock its 21st biggest position. Jones Financial Companies Lllp owned 5.76% of Coca-Cola Consolidated worth $677,784,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of COKE. Wayfinding Financial LLC acquired a new position in Coca-Cola Consolidated during the first quarter valued at approximately $46,000. Allworth Financial LP raised its stake 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 acquiring an additional 21 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Coca-Cola Consolidated by 40.9% during the 1st quarter. Fifth Third Bancorp now owns 62 shares of the company's stock valued at $84,000 after acquiring an additional 18 shares in the last quarter. Spire Wealth Management boosted its position in Coca-Cola Consolidated by 115.6% during the 1st quarter. Spire Wealth Management now owns 69 shares of the company's stock worth $92,000 after purchasing an additional 37 shares during the period. Finally, Cullen Frost Bankers Inc. acquired a new stake in Coca-Cola Consolidated in the 1st quarter valued at $108,000. Institutional investors and hedge funds own 48.24% of the company's stock.

Coca-Cola Consolidated Stock Down 1.7%

Shares of NASDAQ:COKE traded down $2.12 during midday trading on Friday, reaching $122.03. The company had a trading volume of 213,694 shares, compared to its average volume of 553,701. The stock has a market capitalization of $10.60 billion, a P/E ratio of 18.21 and a beta of 0.76. The stock's fifty day moving average price is $115.78 and its 200-day moving average price is $128.36. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.04 and a quick ratio of 1.78. 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 announced its quarterly earnings data on Thursday, July 24th. The company reported $2.24 earnings per share for the quarter. The company 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 firm also recently announced a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Friday, July 25th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, July 25th. This represents a $1.00 annualized dividend and a yield of 0.8%. Coca-Cola Consolidated's payout ratio is presently 14.93%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Coca-Cola Consolidated from a "hold" rating to a "buy" rating in a research 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.