Great Lakes Advisors LLC Purchases Shares of 20,031 Coca-Cola Consolidated, Inc. $COKE

Great Lakes Advisors LLC purchased a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, according to its most recent filing with the SEC. The firm purchased 20,031 shares of the company’s stock, valued at approximately $1,628,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COKE. Ascentis Independent Advisors acquired a new stake in Coca-Cola Consolidated during the first quarter worth approximately $31,000. Torren Management LLC acquired a new position in shares of Coca-Cola Consolidated during the 4th quarter valued at $29,000. Morse Asset Management Inc bought a new position in Coca-Cola Consolidated during the fourth quarter worth $31,000. Ballast Advisors LLC acquired a new position in shares of Coca-Cola Consolidated during the first quarter valued at about $38,000. Finally, Quarry LP bought a new position in shares of Coca-Cola Consolidated during the 3rd quarter worth about $25,000. 48.24% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Consolidated Trading Up 0.8%

Shares of COKE opened at $189.10 on Friday. The stock has a 50 day moving average of $185.00 and a 200 day moving average of $185.77. The company has a market capitalization of $12.59 billion, a price-to-earnings ratio of 25.08 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 12 month low of $110.60 and a 12 month high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share (EPS) for the quarter. The firm had revenue of $2.05 billion for 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 company also recently declared a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, July 24th. Coca-Cola Consolidated’s dividend payout ratio is presently 13.26%.

Analyst Upgrades and Downgrades

COKE has been the topic of a number of recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. Wall Street Zen lowered shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently 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.