Nuveen LLC Invests $19.35 Million in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Nuveen LLC acquired a new position in Coca-Cola Consolidated, purchasing 14,330 shares valued at approximately $19.3 million, representing about 0.16% of the company.
• Coca-Cola Consolidated reported a quarterly earnings per share of $2.24 and a total revenue of $1.86 billion for the last quarter.
• The company declared a quarterly dividend of $0.25 per share, reflecting an annualized yield of 0.8% and a payout ratio of 14.93%.

Nuveen LLC acquired a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 14,330 shares of the company's stock, valued at approximately $19,346,000. Nuveen LLC owned about 0.16% of Coca-Cola Consolidated at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wayfinding Financial LLC acquired a new position in shares of Coca-Cola Consolidated in the first quarter valued at $46,000. Transce3nd LLC acquired a new position in shares of Coca-Cola Consolidated in the fourth quarter valued at $63,000. Allworth Financial LP increased its holdings in shares of Coca-Cola Consolidated by 58.3% in the first quarter. Allworth Financial LP now owns 57 shares of the company's stock valued at $79,000 after purchasing an additional 21 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Coca-Cola Consolidated by 40.9% in the first quarter. Fifth Third Bancorp now owns 62 shares of the company's stock valued at $84,000 after purchasing an additional 18 shares during the last quarter. Finally, Spire Wealth Management increased its holdings in shares of Coca-Cola Consolidated by 115.6% in the first quarter. Spire Wealth Management now owns 69 shares of the company's stock valued at $92,000 after purchasing an additional 37 shares during the last quarter. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Coca-Cola Consolidated from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th.

Coca-Cola Consolidated Price Performance

COKE traded down $2.66 on Monday, hitting $116.57. 295,262 shares of the stock were exchanged, compared to its average volume of 441,025. Coca-Cola Consolidated, Inc. has a 12 month low of $105.21 and a 12 month high of $146.09. The business has a 50-day moving average of $113.49 and a two-hundred day moving average of $130.20. 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 firm has a market capitalization of $10.13 billion, a price-to-earnings ratio of 17.39 and a beta of 0.81.

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. Coca-Cola Consolidated had a net margin of 8.43% and a return on equity of 44.91%. The business had revenue of $1.86 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

The business also recently announced 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 of this dividend was Friday, July 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. Coca-Cola Consolidated's dividend payout ratio is 14.93%.

Coca-Cola Consolidated Company 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.