Lazard Asset Management LLC Boosts Position in Coca-Cola Consolidated, Inc. $COKE

Lazard Asset Management LLC raised its holdings in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 8.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 36,005 shares of the company’s stock after buying an additional 2,719 shares during the quarter. Lazard Asset Management LLC’s holdings in Coca-Cola Consolidated were worth $6,904,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in COKE. Lombard Odier Asset Management USA Corp acquired a new stake in shares of Coca-Cola Consolidated in the first quarter worth $211,000. Waverly Advisors LLC acquired a new position in Coca-Cola Consolidated during the first quarter valued at $280,000. Entropy Technologies LP boosted its holdings in Coca-Cola Consolidated by 256.5% in the first quarter. Entropy Technologies LP now owns 6,060 shares of the company’s stock valued at $1,162,000 after purchasing an additional 4,360 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Coca-Cola Consolidated in the first quarter valued at $4,028,000. Finally, Renaissance Technologies LLC grew its position in Coca-Cola Consolidated by 13.4% during the 1st quarter. Renaissance Technologies LLC now owns 382,270 shares of the company’s stock worth $73,296,000 after purchasing an additional 45,300 shares during the period. 48.24% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Price Performance

NASDAQ:COKE opened at $189.83 on Friday. The company has a 50 day moving average price of $182.34 and a 200-day moving average price of $181.98. Coca-Cola Consolidated, Inc. has a 1-year low of $110.40 and a 1-year high of $219.65. The firm has a market cap of $12.64 billion, a price-to-earnings ratio of 25.97 and a beta of 0.54.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.79 earnings per share (EPS) for the quarter. The firm had revenue of $1.71 billion for the quarter. Coca-Cola Consolidated had a net margin of 7.72% and a return on equity of 138.44%.

Coca-Cola Consolidated Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 24th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, July 24th. Coca-Cola Consolidated’s dividend payout ratio is presently 13.68%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Coca-Cola Consolidated presently has a consensus rating of “Buy”.

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.