222,061 Shares in Coca-Cola Consolidated, Inc. $COKE Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, HoldingsChannel reports. The institutional investor acquired 222,061 shares of the company’s stock, valued at approximately $18,047,000.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Coca-Cola Consolidated in the 2nd quarter worth about $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Coca-Cola Consolidated in the 2nd quarter valued at about $1,591,427,000. GQG Partners LLC bought a new stake in shares of Coca-Cola Consolidated during the 2nd quarter valued at about $1,494,498,000. Deutsche Bank AG bought a new stake in shares of Coca-Cola Consolidated during the 2nd quarter valued at about $1,346,125,000. Finally, Vanguard Group Inc. raised its stake in Coca-Cola Consolidated by 6.4% during the fourth quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company’s stock worth $871,673,000 after acquiring an additional 341,374 shares during the period. Institutional investors own 48.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on COKE. Wall Street Zen cut shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy”.

Coca-Cola Consolidated Stock Performance

COKE stock opened at $196.53 on Wednesday. Coca-Cola Consolidated, Inc. has a 1 year low of $110.60 and a 1 year high of $219.65. The stock has a market capitalization of $13.08 billion, a price-to-earnings ratio of 26.07 and a beta of 0.55. The stock’s fifty day moving average is $185.35 and its two-hundred day moving average is $186.58.

Coca-Cola Consolidated (NASDAQ:COKE) last released its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 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 business had revenue of $2.05 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

The company also recently announced 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 dividend on an annualized basis 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 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.