Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Connor Clark & Lunn Investment Management acquired 222,061 shares of Coca-Cola Consolidated in the second quarter, valued at approximately $18.05 million and representing about 0.33% of the company.
• Several other institutional investors also initiated or increased positions, with institutional investors and hedge funds collectively owning 48.24% of Coca-Cola Consolidated.
• Coca-Cola Consolidated reported quarterly EPS of $2.83 on $2.05 billion in revenue and pays a quarterly dividend of $0.25 per share, yielding about 0.5%; analysts maintain a consensus “Buy” rating.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 222,061 shares of the company's stock, valued at approximately $18,047,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.33% of Coca-Cola Consolidated as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP purchased a new stake in Coca-Cola Consolidated during the 3rd quarter worth $25,000. Advisory Services Network LLC acquired a new position in shares of Coca-Cola Consolidated during the third quarter worth about $25,000. J.Safra Asset Management Corp purchased a new stake in shares of Coca-Cola Consolidated in the second quarter worth about $26,000. Newbridge Financial Services Group Inc. grew its stake in shares of Coca-Cola Consolidated by 900.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company's stock valued at $26,000 after buying an additional 207 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Coca-Cola Consolidated by 900.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 250 shares of the company's stock valued at $28,000 after buying an additional 225 shares during the period. Institutional investors and hedge funds own 48.24% of the company's stock.

Coca-Cola Consolidated Stock Performance

Shares of Coca-Cola Consolidated stock opened at $196.53 on Wednesday. The firm has a market cap of $13.08 billion, a PE ratio of 26.07 and a beta of 0.55. The firm's 50-day simple moving average is $185.35 and its 200-day simple moving average is $186.58. Coca-Cola Consolidated, Inc. has a 1 year low of $110.60 and a 1 year high of $219.65.

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

Coca-Cola Consolidated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Friday, July 24th. Coca-Cola Consolidated's dividend payout ratio (DPR) is currently 13.26%.

Analyst Upgrades and Downgrades

COKE has been the subject of a number of analyst reports. Weiss Ratings restated a "buy (b)" rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. Wall Street Zen cut shares of Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy".

About Coca-Cola Consolidated

Founded in 1902 and headquartered in Charlotte, North Carolina, Coca-Cola Consolidated, Inc is the largest independent bottler of Coca-Cola products in the United States. The company manufactures, sells and distributes a broad portfolio of sparkling and still beverages under exclusive agreements with The Coca-Cola Company. Its brand lineup includes Coca-Cola, Diet Coke, Sprite and Fanta, as well as noncarbonated offerings such as Minute Maid juices, Gold Peak teas, Dasani water, Powerade sports drinks and vitaminwater.

Coca-Cola Consolidated's operations span 14 states and the District of Columbia across the Southeastern, South Central and Mid-Atlantic regions.

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