Sei Investments Co. Purchases 20,393 Shares of Coca-Cola Consolidated, Inc. $COKE

Key Points

• Sei Investments increased its Coca-Cola Consolidated stake by 196.1% in the first quarter, adding 20,393 shares for a total holding of 30,792 shares valued at approximately $5.9 million.
• Institutional ownership remains significant at 48.24%, with Vanguard, Horizon Investments, Vest Financial, James Investment Research and Walleye Capital also raising their positions.
• Coca-Cola Consolidated carries an average analyst rating of “Buy”. The company reported $1.79 in quarterly EPS on $1.71 billion in revenue and announced a $0.25 quarterly dividend, equivalent to a 0.6% yield.

Sei Investments Co. grew its position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 196.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,792 shares of the company's stock after purchasing an additional 20,393 shares during the quarter. Sei Investments Co.'s holdings in Coca-Cola Consolidated were worth $5,904,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in COKE. Vanguard Group Inc. increased its position in Coca-Cola Consolidated by 6.4% in the 4th quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company's stock valued at $871,673,000 after acquiring an additional 341,374 shares during the period. Horizon Investments LLC grew its stake in shares of Coca-Cola Consolidated by 1,655,666.7% in the fourth quarter. Horizon Investments LLC now owns 49,673 shares of the company's stock worth $7,602,000 after purchasing an additional 49,670 shares during the last quarter. Vest Financial LLC increased its holdings in Coca-Cola Consolidated by 60.8% in the fourth quarter. Vest Financial LLC now owns 232,597 shares of the company's stock valued at $35,657,000 after purchasing an additional 87,912 shares during the period. James Investment Research Inc. increased its holdings in Coca-Cola Consolidated by 62.2% in the fourth quarter. James Investment Research Inc. now owns 22,412 shares of the company's stock valued at $3,436,000 after purchasing an additional 8,593 shares during the period. Finally, Walleye Capital LLC raised its position in Coca-Cola Consolidated by 285.2% during the 1st quarter. Walleye Capital LLC now owns 86,972 shares of the company's stock worth $16,676,000 after purchasing an additional 64,396 shares during the last quarter. 48.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "buy (b)" rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy".

Coca-Cola Consolidated Trading Up 0.1%

COKE opened at $181.00 on Wednesday. The company has a fifty day moving average price of $182.78 and a two-hundred day moving average price of $182.66. Coca-Cola Consolidated, Inc. has a 1-year low of $110.60 and a 1-year high of $219.65. The company has a market cap of $12.05 billion, a P/E ratio of 24.76 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $1.79 earnings per share (EPS) for the quarter. The company had revenue of $1.71 billion for the quarter. Coca-Cola Consolidated had a net margin of 7.72% and a return on equity of 138.44%.

Coca-Cola Consolidated Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 24th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Friday, July 24th. Coca-Cola Consolidated's payout ratio is presently 13.68%.

About Coca-Cola Consolidated

Founded in 1902 and headquartered in Charlotte, North Carolina, Coca-Cola Consolidated, Inc is the largest independent bottler of Coca-Cola products in the United States. The company manufactures, sells and distributes a broad portfolio of sparkling and still beverages under exclusive agreements with The Coca-Cola Company. Its brand lineup includes Coca-Cola, Diet Coke, Sprite and Fanta, as well as noncarbonated offerings such as Minute Maid juices, Gold Peak teas, Dasani water, Powerade sports drinks and vitaminwater.

Coca-Cola Consolidated's operations span 14 states and the District of Columbia across the Southeastern, South Central and Mid-Atlantic regions.

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