Paralel Advisors LLC Purchases 16,821 Shares of Coca-Cola Consolidated, Inc. $COKE

Key Points

• Paralel Advisors LLC increased its stake in Coca-Cola Consolidated by 566.6% during the second quarter, purchasing an additional 16,821 shares, bringing its total holdings to 19,790 shares valued at approximately $2.21 million.
• Coca-Cola Consolidated is set to pay a quarterly dividend of $0.25 per share on November 7th, which will yield an annualized rate of 0.8%.
• Shares of Coca-Cola Consolidated saw a decline of 2.7%, with a current trading price of $129.22, and the stock has a market capitalization of $11.23 billion.

Paralel Advisors LLC raised its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 566.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,790 shares of the company's stock after purchasing an additional 16,821 shares during the period. Paralel Advisors LLC's holdings in Coca-Cola Consolidated were worth $2,210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. OLD Point Trust & Financial Services N A boosted its position in shares of Coca-Cola Consolidated by 900.0% during the second quarter. OLD Point Trust & Financial Services N A now owns 280 shares of the company's stock valued at $31,000 after buying an additional 252 shares during the period. Harbour Investments Inc. lifted its stake in shares of Coca-Cola Consolidated by 1,071.4% during the 2nd quarter. Harbour Investments Inc. now owns 328 shares of the company's stock worth $37,000 after purchasing an additional 300 shares during the last quarter. Beacon Capital Management LLC lifted its holdings in shares of Coca-Cola Consolidated by 905.0% during the 2nd quarter. Beacon Capital Management LLC now owns 402 shares of the company's stock valued at $45,000 after purchasing an additional 362 shares during the last quarter. Sound Income Strategies LLC increased its stake in Coca-Cola Consolidated by 905.0% during the 2nd quarter. Sound Income Strategies LLC now owns 402 shares of the company's stock valued at $45,000 after purchasing an additional 362 shares in the last quarter. Finally, Wayfinding Financial LLC purchased a new stake in Coca-Cola Consolidated during the 1st quarter valued at about $46,000. Institutional investors own 48.24% of the company's stock.

Coca-Cola Consolidated Stock Down 2.7%

Shares of NASDAQ COKE opened at $129.22 on Thursday. The firm's 50-day moving average is $119.92 and its two-hundred day moving average is $125.84. Coca-Cola Consolidated, Inc. has a 12-month low of $105.21 and a 12-month high of $146.09. The company has a market capitalization of $11.23 billion, a PE ratio of 19.28 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.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $2.24 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 business also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Shareholders 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 is Friday, October 24th. Coca-Cola Consolidated's payout ratio is 14.93%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Weiss Ratings raised 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 research note on Saturday, July 26th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy".

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.

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