Wallace Capital Management Inc. Acquires New Holdings in Coca-Cola Consolidated, Inc. $COKE

Wallace Capital Management Inc. bought a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 26,328 shares of the company’s stock, valued at approximately $2,140,000. Coca-Cola Consolidated makes up 0.2% of Wallace Capital Management Inc.’s investment portfolio, making the stock its 25th biggest holding.

A number of other institutional investors have also recently bought and sold shares of the stock. Biglari Capital CORP. bought a new stake in shares of Coca-Cola Consolidated during the second quarter worth $9,752,000. Ascentis Independent Advisors bought a new stake in Coca-Cola Consolidated in the 1st quarter valued at $31,000. Torren Management LLC bought a new stake in Coca-Cola Consolidated in the 4th quarter valued at $29,000. Morse Asset Management Inc acquired a new position in Coca-Cola Consolidated in the 4th quarter worth $31,000. Finally, Ballast Advisors LLC acquired a new position in Coca-Cola Consolidated in the 1st quarter worth $38,000. Institutional investors own 48.24% of the company’s stock.

Analyst Upgrades and Downgrades

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

Coca-Cola Consolidated Stock Down 1.3%

NASDAQ COKE opened at $194.02 on Thursday. The firm’s 50 day moving average is $185.56 and its 200-day moving average is $186.85. The company has a market capitalization of $12.91 billion, a PE ratio of 25.73 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 12-month low of $110.60 and a 12-month high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its earnings results on Wednesday, August 5th. The company reported $2.83 EPS for the quarter. The business had revenue of $2.05 billion during 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 Dividend Announcement

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

About Coca-Cola Consolidated

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.