Coca-Cola Consolidated, Inc. $COKE Stake Increased by Securian Asset Management Inc.

Securian Asset Management Inc. increased its stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 841.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,464 shares of the company’s stock after buying an additional 3,990 shares during the period. Securian Asset Management Inc.’s holdings in Coca-Cola Consolidated were worth $498,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Harbour Investments Inc. increased its stake in Coca-Cola Consolidated by 1,071.4% during the second quarter. Harbour Investments Inc. now owns 328 shares of the company’s stock valued at $37,000 after purchasing an additional 300 shares during the last quarter. Beacon Capital Management LLC increased its stake in Coca-Cola Consolidated by 905.0% during the second quarter. Beacon Capital Management LLC now owns 402 shares of the company’s stock valued at $45,000 after purchasing an additional 362 shares during the last quarter. Sound Income Strategies LLC increased its stake in Coca-Cola Consolidated by 905.0% during the second quarter. Sound Income Strategies LLC now owns 402 shares of the company’s stock valued at $45,000 after purchasing an additional 362 shares during the last quarter. Wayfinding Financial LLC bought a new stake in Coca-Cola Consolidated during the first quarter valued at $46,000. Finally, Semmax Financial Advisors Inc. bought a new stake in Coca-Cola Consolidated during the first quarter valued at $50,000. Institutional investors own 48.24% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on COKE shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Coca-Cola Consolidated in a research note on Friday. Wall Street Zen upgraded shares of Coca-Cola Consolidated from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy”.

Coca-Cola Consolidated Stock Down 0.0%

Coca-Cola Consolidated stock opened at $127.66 on Friday. The company has a 50-day simple moving average of $120.47 and a 200-day simple moving average of $125.82. The firm has a market capitalization of $11.09 billion, a P/E ratio of 19.05 and a beta of 0.70. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.78 and a current ratio of 2.04. Coca-Cola Consolidated, Inc. has a one year low of $105.21 and a one year high of $146.09.

Coca-Cola Consolidated (NASDAQ:COKE) last released its quarterly earnings results on Thursday, July 24th. The company reported $2.24 EPS for the quarter. The business had revenue of $1.86 billion during the quarter. Coca-Cola Consolidated had a net margin of 8.43% and a return on equity of 44.91%.

Coca-Cola Consolidated Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, October 24th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, October 24th. This represents a $1.00 annualized dividend and a yield of 0.8%. Coca-Cola Consolidated’s dividend payout ratio is presently 14.93%.

Coca-Cola Consolidated Company Profile

Coca-Cola Consolidated, Inc, together with its subsidiaries, manufactures, markets, and distributes nonalcoholic beverages primarily products of The Coca-Cola Company in the United States. The company offers sparkling beverages; and still beverages, including energy products, as well as noncarbonated beverages comprising bottled water, ready to drink coffee and tea, enhanced water, juices, and sports drinks.