AlphaStar Capital Management LLC Makes New Investment in Coca-Cola Consolidated, Inc. $COKE

AlphaStar Capital Management LLC purchased a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, Holdings Channel reports. The firm purchased 2,310 shares of the company’s stock, valued at approximately $258,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in COKE. Diversified Trust Co grew its holdings in Coca-Cola Consolidated by 900.0% during the 2nd quarter. Diversified Trust Co now owns 1,462,487 shares of the company’s stock worth $163,287,000 after acquiring an additional 1,316,233 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Coca-Cola Consolidated by 265,541.3% during the 1st quarter. Jones Financial Companies Lllp now owns 502,062 shares of the company’s stock worth $677,784,000 after buying an additional 501,873 shares during the last quarter. Truist Financial Corp lifted its position in shares of Coca-Cola Consolidated by 902.4% during the 2nd quarter. Truist Financial Corp now owns 289,493 shares of the company’s stock worth $32,322,000 after buying an additional 260,612 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in shares of Coca-Cola Consolidated by 548.0% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 226,905 shares of the company’s stock worth $25,334,000 after buying an additional 191,887 shares during the last quarter. Finally, Kintegral Advisory LLC purchased a new stake in shares of Coca-Cola Consolidated during the 2nd quarter worth approximately $20,649,000. Institutional investors and hedge funds own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Performance

Shares of COKE opened at $130.38 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.78 and a current ratio of 2.04. The stock has a market capitalization of $11.33 billion, a P/E ratio of 18.56 and a beta of 0.70. The company’s fifty day moving average is $121.59 and its two-hundred day moving average is $125.39. Coca-Cola Consolidated, Inc. has a 1 year low of $105.21 and a 1 year high of $146.09.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $2.06 earnings per share for the quarter. Coca-Cola Consolidated had a net margin of 8.66% and a return on equity of 44.03%. The business had revenue of $1.89 billion for the quarter.

Coca-Cola Consolidated Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, October 24th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, October 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. Coca-Cola Consolidated’s dividend payout ratio is 14.25%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Coca-Cola Consolidated from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Coca-Cola Consolidated from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Coca-Cola Consolidated Profile

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.