X Square Capital LLC Purchases New Shares in Coca-Cola Consolidated, Inc. $COKE

Key Points

• X Square Capital LLC acquired 16,582 shares of Coca-Cola Consolidated during the second quarter, valued at approximately $1.35 million. Institutional investors collectively own 48.24% of the company.
• Analyst sentiment remains positive overall, with a consensus “Buy” rating, although Wall Street Zen recently downgraded the stock from “Buy” to “Hold.”
• Coca-Cola Consolidated reported quarterly revenue of $2.05 billion and earnings of $2.83 per share. The company also declared a quarterly dividend of $0.25 per share, equal to a 0.5% annualized yield.

X Square Capital LLC acquired a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 16,582 shares of the company's stock, valued at approximately $1,348,000.

Several other institutional investors have also added to or reduced their stakes in COKE. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Coca-Cola Consolidated by 8.7% in 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 buying an additional 1,385 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Coca-Cola Consolidated by 1,587.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 270 shares of the company's stock valued at $30,000 after acquiring an additional 254 shares in the last quarter. Baird Financial Group Inc. grew its holdings in shares of Coca-Cola Consolidated by 795.4% during the 2nd quarter. Baird Financial Group Inc. now owns 9,966 shares of the company's stock worth $1,113,000 after acquiring an additional 8,853 shares during the period. Marshall Wace LLP grew its holdings in shares of Coca-Cola Consolidated by 5,152.8% during the 2nd quarter. Marshall Wace LLP now owns 18,910 shares of the company's stock worth $2,111,000 after acquiring an additional 18,550 shares during the period. Finally, Cresset Asset Management LLC raised its position 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 acquiring an additional 2,883 shares in the last quarter. 48.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

COKE has been the subject of a number of research analyst reports. Weiss Ratings restated a "buy (b)" rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. Wall Street Zen cut Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy".

Coca-Cola Consolidated Price Performance

Shares of NASDAQ COKE opened at $189.10 on Friday. Coca-Cola Consolidated, Inc. has a 1 year low of $110.60 and a 1 year high of $219.65. The firm has a 50-day moving average of $185.00 and a 200 day moving average of $185.77. The stock has a market cap of $12.59 billion, a P/E ratio of 25.08 and a beta of 0.55.

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

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%.

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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