Corient Private Wealth LP Takes $245.66 Million Position in Coca-Cola Consolidated, Inc. $COKE

Corient Private Wealth LP bought a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, Holdings Channel.com reports. The firm bought 3,071,817 shares of the company’s stock, valued at approximately $245,665,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Coca-Cola Consolidated in the second quarter valued at about $26,229,118,000. Legal & General Group Plc acquired a new stake in shares of Coca-Cola Consolidated during the second quarter worth about $1,978,267,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Coca-Cola Consolidated in the second quarter valued at approximately $1,591,427,000. GQG Partners LLC purchased a new stake in Coca-Cola Consolidated in the second quarter valued at approximately $1,494,498,000. Finally, Deutsche Bank AG purchased a new stake in Coca-Cola Consolidated in the second quarter valued at approximately $1,346,125,000. Institutional investors and hedge funds own 48.24% of the company’s stock.

Analyst Upgrades and Downgrades

COKE has been the subject of a number of recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. Wall Street Zen downgraded shares of 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 MarketBeat, the stock presently has a consensus rating of “Buy”.

Coca-Cola Consolidated Stock Performance

Shares of COKE opened at $194.02 on Thursday. The business’s 50-day moving average is $185.56 and its two-hundred day moving average is $186.85. The company has a market capitalization of $12.91 billion, a P/E ratio of 25.73 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a fifty-two week low of $110.60 and a fifty-two week high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 earnings per share (EPS) 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 Announces Dividend

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