Inspire Investing LLC Buys 2,278 Shares of Coca-Cola Consolidated, Inc. $COKE

Key Points

• Inspire Investing LLC significantly increased its stake in Coca-Cola Consolidated, acquiring an additional 2,278 shares during the second quarter, bringing its total ownership to 2,512 shares valued at $280,000.
• Several other institutional investors also boosted their holdings in Coca-Cola Consolidated, with increases ranging from 548.0% to 900.0% during the same quarter, highlighting growing institutional interest.
• Coca-Cola Consolidated will pay a quarterly dividend of $0.25 on November 7th, representing an annualized dividend of $1.00 and a yield of 0.8%, with a payout ratio of 14.93%.

Inspire Investing LLC increased its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 973.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,512 shares of the company's stock after acquiring an additional 2,278 shares during the period. Inspire Investing LLC's holdings in Coca-Cola Consolidated were worth $280,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of COKE. Diversified Trust Co grew its stake in Coca-Cola Consolidated by 900.0% in the second quarter. Diversified Trust Co now owns 1,462,487 shares of the company's stock valued at $163,287,000 after purchasing an additional 1,316,233 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Coca-Cola Consolidated by 265,541.3% in the 1st quarter. Jones Financial Companies Lllp now owns 502,062 shares of the company's stock valued at $677,784,000 after buying an additional 501,873 shares during the last quarter. Truist Financial Corp grew its stake in shares of Coca-Cola Consolidated by 902.4% in the second quarter. Truist Financial Corp now owns 289,493 shares of the company's stock valued at $32,322,000 after buying an additional 260,612 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of Coca-Cola Consolidated by 548.0% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 226,905 shares of the company's stock valued at $25,334,000 after buying an additional 191,887 shares in the last quarter. Finally, Boston Partners increased its holdings in Coca-Cola Consolidated by 676.9% during the first quarter. Boston Partners now owns 200,518 shares of the company's stock worth $270,711,000 after buying an additional 174,709 shares during the last quarter. 48.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on COKE. Weiss Ratings upgraded shares of Coca-Cola Consolidated from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Coca-Cola Consolidated from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy".

Coca-Cola Consolidated Stock Performance

COKE opened at $131.68 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.04 and a quick ratio of 1.78. The business has a fifty day simple moving average of $118.91 and a 200 day simple moving average of $125.94. Coca-Cola Consolidated, Inc. has a 1 year low of $105.21 and a 1 year high of $146.09. The company has a market capitalization of $11.44 billion, a PE ratio of 19.65 and a beta of 0.70.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last posted its earnings results 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 return on equity of 44.91% and a net margin of 8.43%.

Coca-Cola Consolidated Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, October 24th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, October 24th. This represents a $1.00 dividend on an annualized basis and a yield of 0.8%. Coca-Cola Consolidated's payout ratio is currently 14.93%.

Coca-Cola Consolidated Profile

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.

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