Stevens Capital Partners Invests $2.01 Million in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Stevens Capital Partners acquired 24,784 shares of Coca-Cola Consolidated worth approximately $2.01 million during the second quarter.
• Other institutional investors also increased their positions, contributing to institutional ownership of 48.24% of the company’s stock.
• COKE shares opened at $188.64, while analysts maintained a consensus “Buy” rating. The company reported quarterly revenue of $2.05 billion and declared a $0.25 quarterly dividend, yielding approximately 0.5%.

Stevens Capital Partners bought a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 24,784 shares of the company's stock, valued at approximately $2,014,000.

A number of other institutional investors have also recently made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Coca-Cola Consolidated by 8.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,251 shares of the company's stock worth $23,289,000 after acquiring an additional 1,385 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Coca-Cola Consolidated by 1,587.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 270 shares of the company's stock valued at $30,000 after purchasing an additional 254 shares during the period. Baird Financial Group Inc. lifted its stake in shares of Coca-Cola Consolidated by 795.4% in the 2nd quarter. Baird Financial Group Inc. now owns 9,966 shares of the company's stock valued at $1,113,000 after purchasing an additional 8,853 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Coca-Cola Consolidated by 5,152.8% in the 2nd quarter. Marshall Wace LLP now owns 18,910 shares of the company's stock valued at $2,111,000 after purchasing an additional 18,550 shares during the last quarter. Finally, Cresset Asset Management LLC boosted its holdings in shares of Coca-Cola Consolidated by 169.0% in the 2nd quarter. Cresset Asset Management LLC now owns 4,589 shares of the company's stock worth $512,000 after purchasing an additional 2,883 shares during the period. Institutional investors own 48.24% of the company's stock.

Analysts Set New Price Targets

COKE has been the topic of several analyst reports. Wall Street Zen downgraded Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Weiss Ratings restated a "buy (b)" rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy".

Coca-Cola Consolidated Stock Up 1.3%

Shares of Coca-Cola Consolidated stock opened at $188.64 on Wednesday. The stock's fifty day moving average is $185.03 and its two-hundred day moving average is $185.23. Coca-Cola Consolidated, Inc. has a 52 week low of $110.60 and a 52 week high of $219.65. The company has a market capitalization of $12.56 billion, a PE ratio of 25.02 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share for the quarter. The business had revenue of $2.05 billion during the quarter. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%.

Coca-Cola Consolidated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Friday, July 24th. Coca-Cola Consolidated's dividend payout ratio (DPR) is currently 13.26%.

Coca-Cola Consolidated Profile

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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