Kingswood Wealth Advisors LLC Purchases 7,598 Shares of Coca-Cola Consolidated, Inc. $COKE

Key Points

• Kingswood Wealth Advisors LLC increased its position in Coca-Cola Consolidated by **889.7%** during the second quarter, acquiring an additional 7,598 shares to reach a total of 8,452 shares valued at **$944,000**.
• Several hedge funds also significantly boosted their stakes in Coca-Cola Consolidated, with increases of up to **981.8%** from KLP Kapitalforvaltning AS and **902.4%** from Truist Financial Corp.
• Coca-Cola Consolidated recently declared a quarterly dividend of **$0.25 per share**, showcasing a **0.8% yield** and a modest payout ratio of **14.93%**.

Kingswood Wealth Advisors LLC grew its position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 889.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,452 shares of the company's stock after purchasing an additional 7,598 shares during the period. Kingswood Wealth Advisors LLC's holdings in Coca-Cola Consolidated were worth $944,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS lifted its stake in Coca-Cola Consolidated by 981.8% during the second quarter. KLP Kapitalforvaltning AS now owns 11,900 shares of the company's stock worth $1,329,000 after purchasing an additional 10,800 shares during the last quarter. Accel Wealth Management lifted its stake in Coca-Cola Consolidated by 856.0% during the second quarter. Accel Wealth Management now owns 2,409 shares of the company's stock worth $269,000 after purchasing an additional 2,157 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in Coca-Cola Consolidated by 548.0% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 226,905 shares of the company's stock worth $25,334,000 after purchasing an additional 191,887 shares during the last quarter. Ameritas Advisory Services LLC increased its holdings in shares of Coca-Cola Consolidated by 469.2% in the second quarter. Ameritas Advisory Services LLC now owns 1,366 shares of the company's stock worth $153,000 after buying an additional 1,126 shares during the period. Finally, Truist Financial Corp increased its holdings 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 worth $32,322,000 after buying an additional 260,612 shares during the period. Institutional investors own 48.24% of the company's stock.

Coca-Cola Consolidated Stock Up 0.1%

Shares of NASDAQ:COKE opened at $119.93 on Thursday. 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 cap of $10.42 billion, a PE ratio of 17.89 and a beta of 0.70. 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 stock's 50-day moving average is $116.95 and its 200 day moving average is $126.21.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $2.24 earnings per share (EPS) for the quarter. Coca-Cola Consolidated had a return on equity of 44.91% and a net margin of 8.43%.The company had revenue of $1.86 billion for the quarter.

Coca-Cola Consolidated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Friday, July 25th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, July 25th. Coca-Cola Consolidated's payout ratio is currently 14.93%.

Analysts Set New Price Targets

COKE has been the topic of several analyst reports. Wall Street Zen upgraded Coca-Cola Consolidated from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Weiss Ratings upgraded Coca-Cola Consolidated from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Coca-Cola Consolidated has an average rating of "Buy".

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.