Ritholtz Wealth Management Grows Holdings in Coca-Cola Consolidated, Inc. $COKE

Ritholtz Wealth Management increased its position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 852.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,679 shares of the company’s stock after purchasing an additional 18,507 shares during the quarter. Ritholtz Wealth Management’s holdings in Coca-Cola Consolidated were worth $2,309,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Harbour Investments Inc. boosted its holdings in Coca-Cola Consolidated by 1,071.4% during the second quarter. Harbour Investments Inc. now owns 328 shares of the company’s stock worth $37,000 after purchasing an additional 300 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC boosted its holdings in Coca-Cola Consolidated by 900.0% during the second quarter. Mowery & Schoenfeld Wealth Management LLC now owns 740 shares of the company’s stock worth $83,000 after purchasing an additional 666 shares during the last quarter. Axxcess Wealth Management LLC boosted its holdings in Coca-Cola Consolidated by 831.5% during the second quarter. Axxcess Wealth Management LLC now owns 2,189 shares of the company’s stock worth $244,000 after purchasing an additional 1,954 shares during the last quarter. Kintegral Advisory LLC purchased a new position in Coca-Cola Consolidated during the second quarter worth about $20,649,000. Finally, Vest Financial LLC boosted its holdings in Coca-Cola Consolidated by 1,146.4% during the second quarter. Vest Financial LLC now owns 33,017 shares of the company’s stock worth $3,686,000 after purchasing an additional 30,368 shares during the last quarter. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on COKE. Weiss Ratings upgraded shares of Coca-Cola Consolidated from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. 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 analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy”.

Coca-Cola Consolidated Stock Up 2.9%

COKE opened at $130.59 on Friday. The stock has a market cap of $11.35 billion, a price-to-earnings ratio of 19.49 and a beta of 0.70. The company has a quick ratio of 1.78, a current ratio of 2.04 and a debt-to-equity ratio of 0.88. The company’s 50-day moving average price is $118.56 and its two-hundred day moving average price is $125.99. Coca-Cola Consolidated, Inc. has a twelve month low of $105.21 and a twelve month high of $146.09.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its quarterly earnings results on Thursday, July 24th. The company reported $2.24 EPS for the quarter. The company had revenue of $1.86 billion for 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 firm also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, October 24th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, October 24th. Coca-Cola Consolidated’s dividend payout ratio is presently 14.93%.

About Coca-Cola Consolidated

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.