Victory Capital Management Inc. Raises Stock Holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Victory Capital Management Inc. increased its holdings in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 33.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,310 shares of the company's stock after purchasing an additional 2,821 shares during the quarter. Victory Capital Management Inc. owned approximately 0.13% of Coca-Cola Consolidated worth $15,268,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Linden Thomas Advisory Services LLC lifted its stake in Coca-Cola Consolidated by 3.5% during the first quarter. Linden Thomas Advisory Services LLC now owns 265 shares of the company's stock worth $358,000 after purchasing an additional 9 shares during the last quarter. Sunbelt Securities Inc. lifted its stake in Coca-Cola Consolidated by 10.8% during the fourth quarter. Sunbelt Securities Inc. now owns 103 shares of the company's stock worth $128,000 after purchasing an additional 10 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in Coca-Cola Consolidated by 0.3% during the first quarter. State of Alaska Department of Revenue now owns 3,973 shares of the company's stock worth $5,363,000 after purchasing an additional 10 shares during the last quarter. HBK Sorce Advisory LLC lifted its stake in Coca-Cola Consolidated by 2.9% during the first quarter. HBK Sorce Advisory LLC now owns 357 shares of the company's stock worth $481,000 after purchasing an additional 10 shares during the last quarter. Finally, Monument Capital Management lifted its stake in Coca-Cola Consolidated by 0.3% during the first quarter. Monument Capital Management now owns 3,955 shares of the company's stock worth $5,339,000 after purchasing an additional 10 shares during the last quarter. Hedge funds and other institutional investors own 48.24% of the company's stock.

Coca-Cola Consolidated Stock Performance

NASDAQ COKE traded up $6.99 on Friday, reaching $118.80. The stock had a trading volume of 1,479,309 shares, compared to its average volume of 649,636. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.76 and a current ratio of 2.03. Coca-Cola Consolidated, Inc. has a 12-month low of $105.21 and a 12-month high of $146.09. The business's 50-day moving average price is $132.69 and its 200 day moving average price is $132.93. The stock has a market cap of $10.36 billion, a P/E ratio of 17.73 and a beta of 0.79.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $2.24 earnings per share (EPS) for the quarter. The business had revenue of $1.86 billion for the quarter. Coca-Cola Consolidated had a return on equity of 46.75% and a net margin of 8.43%.

Coca-Cola Consolidated Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Friday, July 25th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend is Friday, July 25th. Coca-Cola Consolidated's dividend payout ratio is presently 15.60%.

Wall Street Analyst Weigh In

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

About Coca-Cola Consolidated

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.