Sutton Place Investors LLC Acquires New Holdings in Coca-Cola Consolidated, Inc. $COKE

Sutton Place Investors LLC acquired a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,010 shares of the company’s stock, valued at approximately $245,000.

A number of other large investors also recently bought and sold shares of COKE. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in 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 acquiring an additional 1,385 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Coca-Cola Consolidated by 1,587.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 270 shares of the company’s stock worth $30,000 after acquiring an additional 254 shares in the last quarter. Baird Financial Group Inc. raised its position in shares of Coca-Cola Consolidated by 795.4% in the 2nd quarter. Baird Financial Group Inc. now owns 9,966 shares of the company’s stock worth $1,113,000 after acquiring an additional 8,853 shares in the last quarter. Marshall Wace LLP raised its position in shares of Coca-Cola Consolidated by 5,152.8% in the 2nd quarter. Marshall Wace LLP now owns 18,910 shares of the company’s stock worth $2,111,000 after acquiring an additional 18,550 shares in the last quarter. Finally, Cresset Asset Management LLC lifted its stake in shares of Coca-Cola Consolidated by 169.0% during the 2nd quarter. Cresset Asset Management LLC now owns 4,589 shares of the company’s stock worth $512,000 after purchasing an additional 2,883 shares during the last quarter. Institutional investors own 48.24% of the company’s stock.

Analysts Set New Price Targets

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

Coca-Cola Consolidated Price Performance

Shares of COKE stock opened at $189.11 on Friday. Coca-Cola Consolidated, Inc. has a 1-year low of $110.60 and a 1-year high of $219.65. The stock’s fifty day moving average price is $184.81 and its 200 day moving average price is $184.46. The company has a market cap of $12.59 billion, a price-to-earnings ratio of 25.08 and a beta of 0.55.

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

Coca-Cola Consolidated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, July 24th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio is 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.