Beacon Pointe Advisors LLC Buys 3,518 Shares of Coca-Cola Consolidated, Inc. $COKE

Beacon Pointe Advisors LLC raised its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 574.8% in the second quarter, Holdings Channel reports. The institutional investor owned 4,130 shares of the company’s stock after buying an additional 3,518 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in Coca-Cola Consolidated were worth $461,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of COKE. Resona Asset Management Co. Ltd. increased its stake in Coca-Cola Consolidated by 900.0% in the second quarter. Resona Asset Management Co. Ltd. now owns 4,550 shares of the company’s stock valued at $508,000 after acquiring an additional 4,095 shares during the last quarter. Maryland State Retirement & Pension System lifted its stake in Coca-Cola Consolidated by 900.0% during the second quarter. Maryland State Retirement & Pension System now owns 2,820 shares of the company’s stock worth $315,000 after purchasing an additional 2,538 shares during the last quarter. Davis Investment Partners LLC boosted its holdings in shares of Coca-Cola Consolidated by 980.0% in the 2nd quarter. Davis Investment Partners LLC now owns 5,400 shares of the company’s stock worth $624,000 after purchasing an additional 4,900 shares in the last quarter. Norges Bank bought a new position in shares of Coca-Cola Consolidated during the 2nd quarter valued at about $280,669,000. Finally, Legal & General Group Plc increased its position in shares of Coca-Cola Consolidated by 911.1% during the 2nd quarter. Legal & General Group Plc now owns 115,463 shares of the company’s stock valued at $12,891,000 after purchasing an additional 104,044 shares during the last quarter. 48.24% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Stock Performance

NASDAQ COKE opened at $168.08 on Monday. The company has a 50-day simple moving average of $140.62 and a two-hundred day simple moving average of $130.71. Coca-Cola Consolidated, Inc. has a 12-month low of $105.21 and a 12-month high of $168.21. The firm has a market cap of $14.36 billion, a price-to-earnings ratio of 23.93 and a beta of 0.63. The company has a quick ratio of 1.79, a current ratio of 2.04 and a debt-to-equity ratio of 0.88.

Coca-Cola Consolidated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 7th. Investors of record on Friday, October 24th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.6%. The ex-dividend date was Friday, October 24th. Coca-Cola Consolidated’s dividend payout ratio (DPR) is presently 14.25%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Coca-Cola Consolidated from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Coca-Cola Consolidated presently has an average rating of “Buy”.

Coca-Cola Consolidated Profile

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.