Gallacher Capital Management LLC Makes New $252,000 Investment in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Gallacher Capital Management LLC has invested approximately $252,000 in Coca-Cola Consolidated, acquiring 2,261 shares during the 2nd quarter.
• Other institutional investors, including Victory Capital Management and Jones Financial Companies, have also recently increased their holdings in Coca-Cola Consolidated, reflecting heightened interest in the company.
• Coca-Cola Consolidated's latest earnings report showed $2.24 earnings per share and a revenue of $1.86 billion, along with a recently announced quarterly dividend of $0.25 per share.

Gallacher Capital Management LLC bought a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 2,261 shares of the company's stock, valued at approximately $252,000.

A number of other large investors also recently modified their holdings of COKE. Victory Capital Management Inc. raised its stake in Coca-Cola Consolidated by 33.2% during the first quarter. Victory Capital Management Inc. now owns 11,310 shares of the company's stock worth $15,268,000 after acquiring an additional 2,821 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Coca-Cola Consolidated by 4.4% during the first quarter. Bank of New York Mellon Corp now owns 60,812 shares of the company's stock valued at $82,097,000 after purchasing an additional 2,545 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Coca-Cola Consolidated by 265,541.3% during the 1st quarter. Jones Financial Companies Lllp now owns 502,062 shares of the company's stock worth $677,784,000 after purchasing an additional 501,873 shares during the period. Two Sigma Advisers LP bought a new stake in shares of Coca-Cola Consolidated in the 4th quarter worth approximately $378,000. Finally, Edgestream Partners L.P. acquired a new position in Coca-Cola Consolidated during the 1st quarter valued at approximately $3,638,000. 48.24% of the stock is currently owned by institutional investors.

Coca-Cola Consolidated Trading Down 0.2%

NASDAQ:COKE opened at $121.77 on Tuesday. The stock has a market cap of $10.58 billion, a price-to-earnings ratio of 18.17 and a beta of 0.76. 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, Inc. has a 1 year low of $105.21 and a 1 year high of $146.09. The business has a fifty day moving average of $115.98 and a 200-day moving average of $127.95.

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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Friday, July 25th were issued a $0.25 dividend. The ex-dividend date was Friday, July 25th. This represents a $1.00 annualized dividend and a dividend yield of 0.8%. Coca-Cola Consolidated's dividend payout ratio (DPR) is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.