UNIVEST FINANCIAL Corp Makes New $767,000 Investment in Coca-Cola Consolidated, Inc. $COKE

UNIVEST FINANCIAL Corp acquired a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 9,437 shares of the company’s stock, valued at approximately $767,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of 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 valued at $23,289,000 after purchasing an additional 1,385 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Coca-Cola Consolidated by 1,587.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 270 shares of the company’s stock worth $30,000 after purchasing an additional 254 shares in the last quarter. Baird Financial Group Inc. lifted its stake in Coca-Cola Consolidated by 795.4% in the second quarter. Baird Financial Group Inc. now owns 9,966 shares of the company’s stock valued at $1,113,000 after buying an additional 8,853 shares during the period. Marshall Wace LLP lifted its stake in Coca-Cola Consolidated by 5,152.8% in the second quarter. Marshall Wace LLP now owns 18,910 shares of the company’s stock valued at $2,111,000 after buying an additional 18,550 shares during the period. Finally, Cresset Asset Management LLC lifted its stake in Coca-Cola Consolidated by 169.0% in the second quarter. Cresset Asset Management LLC now owns 4,589 shares of the company’s stock valued at $512,000 after buying an additional 2,883 shares during the period. 48.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Coca-Cola Consolidated Price Performance

COKE stock opened at $186.21 on Tuesday. The company’s 50-day moving average is $184.96 and its 200-day moving average is $184.96. The stock has a market capitalization of $12.39 billion, a PE ratio of 24.70 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 1 year low of $110.60 and a 1 year high of $219.65.

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

Coca-Cola Consolidated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were paid a $0.25 dividend. 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 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.