Quantbot Technologies LP Invests $1.67 Million in Coca-Cola Consolidated, Inc. $COKE

Quantbot Technologies LP acquired a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 20,575 shares of the company’s stock, valued at approximately $1,672,000.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Coca-Cola Consolidated during the second quarter worth $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Coca-Cola Consolidated in the 2nd quarter valued at about $1,591,427,000. Deutsche Bank AG bought a new position in shares of Coca-Cola Consolidated in the 2nd quarter valued at about $1,346,125,000. B. Metzler seel. Sohn & Co. AG acquired a new position in shares of Coca-Cola Consolidated during the 2nd quarter worth about $272,683,000. Finally, Korea Investment CORP acquired a new position in shares of Coca-Cola Consolidated during the 2nd quarter worth about $200,172,000. Institutional investors and hedge funds own 48.24% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. Wall Street Zen downgraded Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy”.

Coca-Cola Consolidated Trading Up 1.9%

COKE opened at $192.60 on Tuesday. The stock’s fifty day simple moving average is $185.14 and its 200 day simple moving average is $186.25. 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 cap of $12.82 billion, a PE ratio of 25.54 and a beta of 0.55.

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

Coca-Cola Consolidated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were issued a $0.25 dividend. 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 is currently 13.26%.

Coca-Cola Consolidated Company 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.