W1M Asset Management Ltd Purchases New Position in Coca-Cola Consolidated, Inc. $COKE

Key Points

• W1M Asset Management purchased 116,407 shares of Coca-Cola Consolidated in the second quarter, worth approximately $9.46 million and representing about 0.17% of the company.
• Several other institutional investors increased their COKE holdings, with institutional ownership reaching 48.24% of outstanding shares.
• Coca-Cola Consolidated reported quarterly EPS of $2.83 on $2.05 billion in revenue and declared a quarterly dividend of $0.25 per share. The stock traded at $189.10, while analysts maintained a consensus “Buy” rating despite one recent downgrade to “Hold.”

W1M Asset Management Ltd purchased a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 116,407 shares of the company's stock, valued at approximately $9,456,000. W1M Asset Management Ltd owned about 0.17% of Coca-Cola Consolidated at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in COKE. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of 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 valued at $23,289,000 after buying an additional 1,385 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in Coca-Cola Consolidated by 1,587.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 270 shares of the company's stock worth $30,000 after acquiring an additional 254 shares during the period. Baird Financial Group Inc. boosted its holdings in Coca-Cola Consolidated by 795.4% in the second quarter. Baird Financial Group Inc. now owns 9,966 shares of the company's stock valued at $1,113,000 after acquiring an additional 8,853 shares in the last quarter. Marshall Wace LLP increased its position in Coca-Cola Consolidated by 5,152.8% during 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 period. Finally, Cresset Asset Management LLC raised its holdings in 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 in the last quarter. 48.24% of the stock is currently owned by institutional investors.

Coca-Cola Consolidated Trading Up 0.8%

Shares of COKE stock opened at $189.10 on Friday. The company's fifty day moving average price is $185.00 and its 200-day moving average price is $185.77. The stock has a market cap of $12.59 billion, a PE ratio of 25.08 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 12 month low of $110.60 and a 12 month high of $219.65.

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

Coca-Cola Consolidated Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings reissued a "buy (b)" rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy".

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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