Great Lakes Advisors LLC purchased a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 20,031 shares of the company's stock, valued at approximately $1,628,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Coca-Cola Consolidated during the 2nd quarter worth approximately $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Coca-Cola Consolidated in the 2nd quarter valued at about $1,591,427,000. Deutsche Bank AG acquired a new stake in Coca-Cola Consolidated in the 2nd quarter valued at about $1,346,125,000. Vanguard Group Inc. grew its holdings in Coca-Cola Consolidated by 6.4% during the fourth quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company's stock worth $871,673,000 after purchasing an additional 341,374 shares during the period. Finally, Boston Partners grew its holdings in Coca-Cola Consolidated by 7.8% during the fourth quarter. Boston Partners now owns 2,329,643 shares of the company's stock worth $357,091,000 after purchasing an additional 169,555 shares during the period. 48.24% of the stock is owned by institutional investors.
Coca-Cola Consolidated Trading Up 0.8%
NASDAQ:COKE opened at $189.10 on Friday. Coca-Cola Consolidated, Inc. has a 1-year low of $110.60 and a 1-year high of $219.65. The stock's 50-day moving average is $185.00 and its 200-day moving average is $185.77. The stock has a market cap of $12.59 billion, a P/E ratio of 25.08 and a beta of 0.55.
Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share (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 declared 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. The ex-dividend date was Friday, July 24th. This represents a $1.00 annualized dividend and a yield of 0.5%. Coca-Cola Consolidated's dividend payout ratio (DPR) is presently 13.26%.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Weiss Ratings restated a "buy (b)" rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy".
Read Our Latest Research Report on COKE
Coca-Cola Consolidated Profile
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Free Report)
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.
See Also
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