Ritholtz Wealth Management Has $2.31 Million Stake in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Ritholtz Wealth Management significantly increased its stake in Coca-Cola Consolidated, raising it by 852.1% during the second quarter, now holding shares valued at approximately $2.31 million.
• Coca-Cola Consolidated recently announced a quarterly dividend of $0.25 per share, with an annualized dividend yield of 0.8% and a payout ratio of 14.93%.
• Equity analysts have upgraded Coca-Cola Consolidated's stock rating to "buy", reflecting positive sentiment in the market about the company's performance and potential growth.

Ritholtz Wealth Management raised its stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 852.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,679 shares of the company's stock after purchasing an additional 18,507 shares during the period. Ritholtz Wealth Management's holdings in Coca-Cola Consolidated were worth $2,309,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wayfinding Financial LLC bought a new stake in Coca-Cola Consolidated in the first quarter valued at $46,000. Semmax Financial Advisors Inc. bought a new stake in Coca-Cola Consolidated in the first quarter valued at $50,000. Allworth Financial LP increased its stake in 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 in the last quarter. Fifth Third Bancorp increased its stake in 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 in the last quarter. Finally, Spire Wealth Management increased its stake in 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 in the last quarter. 48.24% of the stock is owned by institutional investors.

Coca-Cola Consolidated Trading Up 2.9%

NASDAQ:COKE opened at $130.59 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 firm has a 50-day moving average of $118.56 and a 200-day moving average of $125.99. The company has a market cap of $11.35 billion, a PE ratio of 19.49 and a beta of 0.70. Coca-Cola Consolidated, Inc. has a one year low of $105.21 and a one year high of $146.09.

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

Coca-Cola Consolidated Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, October 24th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, October 24th. This represents a $1.00 annualized dividend and a dividend yield of 0.8%. Coca-Cola Consolidated's payout ratio is presently 14.93%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in 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 investment analyst has rated the stock with a Buy rating, According to 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.

Want to see what other hedge funds are holding COKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report).

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.