Versor Investments LP Makes New Investment in Coca-Cola Consolidated, Inc. $COKE

Versor Investments LP purchased a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,913 shares of the company’s stock, valued at approximately $660,000.

Several other institutional investors have also modified their holdings of COKE. Principal Financial Group Inc. grew its stake in shares of Coca-Cola Consolidated by 0.3% in the first quarter. Principal Financial Group Inc. now owns 13,569 shares of the company’s stock worth $18,318,000 after acquiring an additional 43 shares in the last quarter. Truist Financial Corp grew its stake in shares of Coca-Cola Consolidated by 2.1% in the first quarter. Truist Financial Corp now owns 28,881 shares of the company’s stock worth $38,989,000 after acquiring an additional 607 shares in the last quarter. Wayfinding Financial LLC acquired a new position in shares of Coca-Cola Consolidated in the first quarter worth $46,000. Bank of New York Mellon Corp grew its stake in shares of Coca-Cola Consolidated by 4.4% in the first quarter. Bank of New York Mellon Corp now owns 60,812 shares of the company’s stock worth $82,097,000 after acquiring an additional 2,545 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Coca-Cola Consolidated by 18.0% in the first quarter. Envestnet Asset Management Inc. now owns 1,652 shares of the company’s stock worth $2,231,000 after acquiring an additional 252 shares in the last quarter. Institutional investors and hedge funds own 48.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented 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 raised Coca-Cola Consolidated from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Coca-Cola Consolidated Stock Performance

NASDAQ:COKE opened at $130.97 on Tuesday. The firm has a market capitalization of $11.38 billion, a PE ratio of 18.65 and a beta of 0.70. The business’s fifty day moving average price is $121.88 and its 200 day moving average price is $125.21. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.04 and a quick ratio of 1.78. Coca-Cola Consolidated, Inc. has a 12 month low of $105.21 and a 12 month high of $146.09.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its earnings results on Wednesday, October 29th. The company reported $2.06 EPS for the quarter. Coca-Cola Consolidated had a return on equity of 44.03% and a net margin of 8.66%.The firm had revenue of $1.89 billion for the quarter.

Coca-Cola Consolidated Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, October 24th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, October 24th. This represents a $1.00 dividend on an annualized basis and a yield of 0.8%. Coca-Cola Consolidated’s payout ratio is 14.25%.

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.