Salomon & Ludwin LLC Increases Position in Coca-Cola Consolidated, Inc. $COKE

Salomon & Ludwin LLC raised its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 4,928.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,257 shares of the company’s stock after purchasing an additional 1,232 shares during the quarter. Salomon & Ludwin LLC’s holdings in Coca-Cola Consolidated were worth $146,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mezzasalma Advisors LLC raised its position in Coca-Cola Consolidated by 1,043.1% in the second quarter. Mezzasalma Advisors LLC now owns 7,613 shares of the company’s stock valued at $850,000 after purchasing an additional 6,947 shares during the period. TrueMark Investments LLC acquired a new position in shares of Coca-Cola Consolidated in the second quarter worth $5,042,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Coca-Cola Consolidated in the second quarter worth $1,438,000. Mutual of America Capital Management LLC grew its stake in shares of Coca-Cola Consolidated by 924.0% in the second quarter. Mutual of America Capital Management LLC now owns 59,352 shares of the company’s stock worth $6,627,000 after acquiring an additional 53,556 shares in the last quarter. Finally, VELA Investment Management LLC grew its stake in shares of Coca-Cola Consolidated by 905.9% in the second quarter. VELA Investment Management LLC now owns 39,735 shares of the company’s stock worth $4,436,000 after acquiring an additional 35,785 shares in the last quarter. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Performance

Shares of COKE stock opened at $131.68 on Monday. The company has a current ratio of 2.04, a quick ratio of 1.78 and a debt-to-equity ratio of 0.88. The firm has a fifty day moving average price of $118.91 and a 200 day moving average price of $125.75. The company has a market cap of $11.44 billion, a P/E ratio of 19.65 and a beta of 0.70. Coca-Cola Consolidated, Inc. has a 12 month low of $105.21 and a 12 month high of $146.09.

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

Coca-Cola Consolidated Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, October 24th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, October 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. Coca-Cola Consolidated’s payout ratio is presently 14.93%.

Analyst Ratings Changes

Several equities analysts have commented on COKE shares. Weiss Ratings upgraded shares of Coca-Cola Consolidated from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Coca-Cola Consolidated from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy”.

Coca-Cola Consolidated Company 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.