Coca-Cola Consolidated, Inc. $COKE Stock Acquired by International Assets Investment Management LLC

Key Points

• International Assets Investment Management increased its Coca-Cola Consolidated stake by 5,824.2% in the third quarter, ending with 75,000 shares worth approximately $14.2 million. Institutional investors collectively own 48.24% of the company.
• Coca-Cola Consolidated shares opened at $210.30, near their 12-month high of $219.65, with a market capitalization of about $14 billion. The company reported quarterly revenue of $2.05 billion and earnings of $2.83 per share.
• The company declared a quarterly dividend of $0.25 per share, equivalent to a 0.5% annual yield. Analyst sentiment remains broadly positive, with the stock holding an average “Buy” rating despite one recent downgrade to “Hold.”

International Assets Investment Management LLC lifted its holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 5,824.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,000 shares of the company's stock after buying an additional 73,734 shares during the period. International Assets Investment Management LLC owned about 0.11% of Coca-Cola Consolidated worth $14,195,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Coca-Cola Consolidated in the second quarter worth about $26,229,118,000. Legal & General Group Plc purchased a new stake in Coca-Cola Consolidated during the second quarter valued at approximately $1,978,267,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Coca-Cola Consolidated during the second quarter valued at approximately $1,591,427,000. GQG Partners LLC bought a new stake in shares of Coca-Cola Consolidated in the 2nd quarter valued at approximately $1,494,498,000. Finally, Deutsche Bank AG bought a new stake in shares of Coca-Cola Consolidated in the 2nd quarter valued at approximately $1,346,125,000. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Trading Up 0.4%

Shares of NASDAQ:COKE opened at $210.30 on Friday. The company has a market capitalization of $14.00 billion, a price-to-earnings ratio of 27.89 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 12 month low of $127.09 and a 12 month high of $219.65. The firm's 50-day moving average is $197.05 and its 200 day moving average is $186.42.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 earnings per share for the quarter. Coca-Cola Consolidated had a net margin of 7.15% and a negative return on equity of 1,041.59%. The company had revenue of $2.05 billion for the quarter.

Coca-Cola Consolidated Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 6th. Investors of record on Friday, October 23rd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, October 23rd. Coca-Cola Consolidated's dividend payout ratio (DPR) is currently 13.26%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Wall Street Zen cut Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Weiss Ratings raised Coca-Cola Consolidated from a "buy (b)" rating to a "buy (b+)" rating in a research report on Friday, October 16th. One research analyst has rated the stock with a Buy rating. According to MarketBeat, the company currently has an average rating of "Buy".

Coca-Cola Consolidated Company Profile

Coca-Cola Consolidated, Inc is the largest Coca-Cola bottler in the United States. Based in Charlotte, North Carolina, the company produces, sells, markets and distributes a broad portfolio of nonalcoholic beverages for The Coca-Cola Company and other brand owners.

Its products include Coca-Cola, Diet Coke, Coca-Cola Zero Sugar, Sprite, Fanta, DASANI, smartwater, POWERADE, Minute Maid and fairlife, along with other soft drinks, water, sports drinks, juices, dairy beverages and emerging beverage brands.

Want to see what other hedge funds are holding COKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.