136,451 Shares in Coca-Cola Consolidated, Inc. $COKE Bought by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC acquired a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 136,451 shares of the company’s stock, valued at approximately $11,089,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Coca-Cola Consolidated by 6.4% during 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 holdings in shares of Coca-Cola Consolidated by 1,655,666.7% in the 4th quarter. Horizon Investments LLC now owns 49,673 shares of the company’s stock worth $7,602,000 after acquiring an additional 49,670 shares during the period. Vest Financial LLC grew its holdings in shares of Coca-Cola Consolidated by 60.8% in the 4th quarter. Vest Financial LLC now owns 232,597 shares of the company’s stock worth $35,657,000 after acquiring an additional 87,912 shares during the period. James Investment Research Inc. increased its stake in Coca-Cola Consolidated by 62.2% in the 4th 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 in the last quarter. Finally, Walleye Capital LLC increased its stake in Coca-Cola Consolidated by 285.2% in the 1st quarter. Walleye Capital LLC now owns 86,972 shares of the company’s stock valued at $16,676,000 after purchasing an additional 64,396 shares in the last quarter. Institutional investors and hedge funds own 48.24% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on COKE shares. 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 research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Coca-Cola Consolidated has a consensus rating of “Buy”.

Coca-Cola Consolidated Stock Performance

COKE stock opened at $186.21 on Tuesday. Coca-Cola Consolidated, Inc. has a 1 year low of $110.60 and a 1 year high of $219.65. The stock’s 50 day moving average price is $184.96 and its 200 day moving average price is $184.96. The firm has a market cap of $12.39 billion, a P/E ratio of 24.70 and a beta of 0.55.

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

Coca-Cola Consolidated Announces Dividend

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

Coca-Cola Consolidated Company 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.