Northcape Wealth Management LLC Buys New Stake in Coca-Cola Consolidated, Inc. $COKE

Northcape Wealth Management LLC purchased a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, according to its most recent filing with the SEC. The fund purchased 43,486 shares of the company’s stock, valued at approximately $3,534,000. Northcape Wealth Management LLC owned about 0.07% of Coca-Cola Consolidated as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position 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 purchasing an additional 1,385 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of 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 buying an additional 254 shares in the last quarter. Baird Financial Group Inc. lifted its position in shares of Coca-Cola Consolidated by 795.4% in the second quarter. Baird Financial Group Inc. now owns 9,966 shares of the company’s stock worth $1,113,000 after buying an additional 8,853 shares in the last quarter. Marshall Wace LLP boosted its stake in Coca-Cola Consolidated by 5,152.8% during the second quarter. Marshall Wace LLP now owns 18,910 shares of the company’s stock valued at $2,111,000 after buying an additional 18,550 shares during the last quarter. Finally, Cresset Asset Management LLC boosted its stake in Coca-Cola Consolidated by 169.0% during the second quarter. Cresset Asset Management LLC now owns 4,589 shares of the company’s stock valued at $512,000 after buying an additional 2,883 shares during the last quarter. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on COKE shares. Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. Wall Street Zen cut Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy”.

Coca-Cola Consolidated Stock Down 1.0%

Shares of NASDAQ:COKE opened at $186.84 on Thursday. The firm has a fifty day simple moving average of $184.95 and a two-hundred day simple moving average of $185.50. Coca-Cola Consolidated, Inc. has a 52 week low of $110.60 and a 52 week high of $219.65. The stock has a market capitalization of $12.44 billion, a P/E ratio of 24.78 and a beta of 0.55.

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

Coca-Cola Consolidated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Friday, July 24th. Coca-Cola Consolidated’s payout ratio is presently 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.