Parallel Advisors LLC Buys 582 Shares of Coca-Cola Consolidated, Inc. $COKE

Parallel Advisors LLC grew its stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 819.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 653 shares of the company’s stock after acquiring an additional 582 shares during the quarter. Parallel Advisors LLC’s holdings in Coca-Cola Consolidated were worth $73,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of COKE. ProShare Advisors LLC grew its holdings in Coca-Cola Consolidated by 7.4% during the fourth quarter. ProShare Advisors LLC now owns 276 shares of the company’s stock valued at $348,000 after purchasing an additional 19 shares during the period. Two Sigma Advisers LP bought a new position in shares of Coca-Cola Consolidated during the fourth quarter worth $378,000. Squarepoint Ops LLC acquired a new position in shares of Coca-Cola Consolidated in the 4th quarter valued at $1,046,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Coca-Cola Consolidated by 9.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,866 shares of the company’s stock valued at $19,991,000 after buying an additional 1,365 shares in the last quarter. Finally, Jefferies Financial Group Inc. acquired a new stake in Coca-Cola Consolidated during the 4th quarter worth $809,000. Institutional investors own 48.24% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Coca-Cola Consolidated from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th.

Coca-Cola Consolidated Stock Performance

Shares of COKE opened at $113.93 on Friday. The firm has a market cap of $9.90 billion, a P/E ratio of 17.00 and a beta of 0.76. Coca-Cola Consolidated, Inc. has a twelve month low of $105.21 and a twelve month high of $146.09. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.78 and a current ratio of 2.04. The firm’s 50 day moving average price is $116.34 and its two-hundred day moving average price is $127.02.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings data on Thursday, July 24th. The company reported $2.24 EPS for the quarter. The business had revenue of $1.86 billion for the quarter. Coca-Cola Consolidated had a net margin of 8.43% and a return on equity of 44.91%.

Coca-Cola Consolidated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Friday, July 25th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, July 25th. Coca-Cola Consolidated’s dividend payout ratio is currently 14.93%.

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.