Wellington Management Group LLP Takes $7.18 Million Position in Coca-Cola Consolidated, Inc. $COKE

Wellington Management Group LLP acquired a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 37,631 shares of the company’s stock, valued at approximately $7,185,000.

Other hedge funds also recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Coca-Cola Consolidated by 8.7% during the first 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 purchasing an additional 1,385 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Coca-Cola Consolidated by 1,587.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 270 shares of the company’s stock worth $30,000 after purchasing an additional 254 shares in the last quarter. Baird Financial Group Inc. raised its holdings in Coca-Cola Consolidated by 795.4% in the second quarter. Baird Financial Group Inc. now owns 9,966 shares of the company’s stock worth $1,113,000 after purchasing an additional 8,853 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Coca-Cola Consolidated by 5,152.8% during the second quarter. Marshall Wace LLP now owns 18,910 shares of the company’s stock valued at $2,111,000 after buying an additional 18,550 shares during the last quarter. Finally, Cresset Asset Management LLC lifted its position in shares of Coca-Cola Consolidated by 169.0% during the second quarter. Cresset Asset Management LLC now owns 4,589 shares of the company’s stock valued at $512,000 after buying an additional 2,883 shares during the last quarter. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Down 0.6%

COKE stock opened at $188.28 on Wednesday. The firm has a 50 day moving average of $187.33 and a 200 day moving average of $188.89. The stock has a market capitalization of $12.53 billion, a PE ratio of 24.97 and a beta of 0.56. Coca-Cola Consolidated, Inc. has a 52 week low of $110.60 and a 52 week high of $219.65.

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

Coca-Cola Consolidated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, July 24th. Coca-Cola Consolidated’s dividend payout ratio is presently 13.26%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on COKE. Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. Wall Street Zen downgraded Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy”.

Coca-Cola Consolidated 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.