KLP Kapitalforvaltning AS Purchases 10,800 Shares of Coca-Cola Consolidated, Inc. $COKE

Key Points

• KLP Kapitalforvaltning AS significantly increased its stake in Coca-Cola Consolidated by acquiring 10,800 shares, bringing its total holdings to 11,900 shares valued at approximately $1.3 million.
• Coca-Cola Consolidated recently announced a quarterly dividend of $0.25 per share, with an ex-dividend date of October 24th, marking a dividend yield of 0.8%.
• The company reported a quarterly EPS of $2.24 and revenue of $1.86 billion, along with a robust return on equity of 44.91% and a net margin of 8.43%.

KLP Kapitalforvaltning AS boosted its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 981.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,900 shares of the company's stock after acquiring an additional 10,800 shares during the period. KLP Kapitalforvaltning AS's holdings in Coca-Cola Consolidated were worth $1,329,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Linden Thomas Advisory Services LLC boosted its holdings in Coca-Cola Consolidated by 3.5% in the first quarter. Linden Thomas Advisory Services LLC now owns 265 shares of the company's stock worth $358,000 after acquiring an additional 9 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in Coca-Cola Consolidated by 0.3% in the first quarter. State of Alaska Department of Revenue now owns 3,973 shares of the company's stock worth $5,363,000 after acquiring an additional 10 shares in the last quarter. HBK Sorce Advisory LLC boosted its holdings in Coca-Cola Consolidated by 2.9% in the first quarter. HBK Sorce Advisory LLC now owns 357 shares of the company's stock worth $481,000 after acquiring an additional 10 shares in the last quarter. Monument Capital Management boosted its holdings in Coca-Cola Consolidated by 0.3% in the first quarter. Monument Capital Management now owns 3,955 shares of the company's stock worth $5,339,000 after acquiring an additional 10 shares in the last quarter. Finally, CW Advisors LLC boosted its holdings in Coca-Cola Consolidated by 5.4% in the first quarter. CW Advisors LLC now owns 194 shares of the company's stock worth $262,000 after acquiring an additional 10 shares in the last quarter. Institutional investors own 48.24% of the company's stock.

Coca-Cola Consolidated Stock Performance

Shares of COKE opened at $124.73 on Tuesday. The company has a current ratio of 2.04, a quick ratio of 1.78 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $10.84 billion, a price-to-earnings ratio of 18.61 and a beta of 0.70. The stock has a 50 day moving average of $117.68 and a 200 day moving average of $126.01. Coca-Cola Consolidated, Inc. has a 12 month low of $105.21 and a 12 month high of $146.09.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $2.24 EPS 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 declared a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, October 24th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, October 24th. Coca-Cola Consolidated's dividend payout ratio (DPR) is presently 14.93%.

Wall Street Analyst Weigh In

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

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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