M1 Capital Management LLC Acquires Shares of 4,036 Coca-Cola Consolidated, Inc. $COKE

M1 Capital Management LLC acquired a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,036 shares of the company’s stock, valued at approximately $328,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of COKE. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Coca-Cola Consolidated by 8.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,251 shares of the company’s stock worth $23,289,000 after acquiring an additional 1,385 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Coca-Cola Consolidated by 1,587.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 270 shares of the company’s stock worth $30,000 after acquiring an additional 254 shares in the last quarter. Baird Financial Group Inc. lifted its stake in Coca-Cola Consolidated by 795.4% during 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 during the last quarter. Marshall Wace LLP lifted its stake in Coca-Cola Consolidated by 5,152.8% during the second quarter. Marshall Wace LLP now owns 18,910 shares of the company’s stock worth $2,111,000 after purchasing an additional 18,550 shares during the last quarter. Finally, Cresset Asset Management LLC boosted its holdings in Coca-Cola Consolidated by 169.0% in the second quarter. Cresset Asset Management LLC now owns 4,589 shares of the company’s stock valued at $512,000 after purchasing an additional 2,883 shares in the last quarter. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Consolidated Stock Performance

Shares of COKE stock opened at $189.10 on Friday. The stock’s 50-day moving average is $185.00 and its two-hundred day moving average is $185.77. Coca-Cola Consolidated, Inc. has a 1 year low of $110.60 and a 1 year high of $219.65. The firm has a market cap of $12.59 billion, a price-to-earnings ratio of 25.08 and a beta of 0.55.

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

Coca-Cola Consolidated Announces Dividend

The company 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%.

Wall Street Analysts Forecast Growth

COKE has been the topic of several recent analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. Wall Street Zen cut shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Coca-Cola Consolidated has an average 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.