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

Stevens Capital Partners bought a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 24,784 shares of the company’s stock, valued at approximately $2,014,000.

A number of other institutional investors have also recently made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in 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 worth $23,289,000 after acquiring an additional 1,385 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Coca-Cola Consolidated by 1,587.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 270 shares of the company’s stock valued at $30,000 after purchasing an additional 254 shares during the period. Baird Financial Group Inc. lifted its stake 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 valued at $1,113,000 after purchasing an additional 8,853 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Coca-Cola Consolidated by 5,152.8% in the 2nd quarter. Marshall Wace LLP now owns 18,910 shares of the company’s stock valued at $2,111,000 after purchasing an additional 18,550 shares during the last quarter. Finally, Cresset Asset Management LLC boosted its holdings 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 purchasing an additional 2,883 shares during the period. Institutional investors own 48.24% of the company’s stock.

Analysts Set New Price Targets

COKE has been the topic of several analyst reports. 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 analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Coca-Cola Consolidated Stock Up 1.3%

Shares of Coca-Cola Consolidated stock opened at $188.64 on Wednesday. The stock’s fifty day moving average is $185.03 and its two-hundred day moving average is $185.23. Coca-Cola Consolidated, Inc. has a 52 week low of $110.60 and a 52 week high of $219.65. The company has a market capitalization of $12.56 billion, a PE ratio of 25.02 and a beta of 0.55.

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

Coca-Cola Consolidated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were paid a $0.25 dividend. 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 dividend payout ratio (DPR) 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.