Stevens Capital Partners Takes $2.01 Million Position in Coca-Cola Consolidated, Inc. $COKE

Stevens Capital Partners purchased a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, Holdings Channel reports. The firm purchased 24,784 shares of the company’s stock, valued at approximately $2,014,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of COKE. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Coca-Cola Consolidated by 8.7% during the 1st 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 purchasing an additional 1,385 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Coca-Cola Consolidated by 1,587.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 270 shares of the company’s stock worth $30,000 after buying an additional 254 shares during the period. Baird Financial Group Inc. lifted its holdings in shares of Coca-Cola Consolidated by 795.4% in the 2nd 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 during the period. Marshall Wace LLP grew its position 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 buying an additional 18,550 shares in the last quarter. Finally, Cresset Asset Management LLC grew its position in shares of Coca-Cola Consolidated by 169.0% during the 2nd quarter. Cresset Asset Management LLC now owns 4,589 shares of the company’s stock worth $512,000 after buying an additional 2,883 shares in the last quarter. Institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Performance

Shares of Coca-Cola Consolidated stock opened at $188.64 on Wednesday. The company has a market capitalization of $12.56 billion, a PE ratio of 25.02 and a beta of 0.55. The company has a 50-day simple moving average of $185.03 and a two-hundred day simple moving average of $185.23. Coca-Cola Consolidated, Inc. has a one year low of $110.60 and a one year high of $219.65.

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 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 company also recently announced 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. The ex-dividend date of this dividend was Friday, July 24th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio is presently 13.26%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on COKE shares. Wall Street Zen lowered Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reaffirmed 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, Based on data from MarketBeat, the stock currently has an average 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.