Spire Wealth Management Raises Stock Holdings in Coca-Cola Consolidated, Inc. $COKE

Spire Wealth Management increased its holdings in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 692.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 547 shares of the company’s stock after buying an additional 478 shares during the quarter. Spire Wealth Management’s holdings in Coca-Cola Consolidated were worth $61,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Diversified Trust Co increased its stake in Coca-Cola Consolidated by 900.0% during the second quarter. Diversified Trust Co now owns 1,462,487 shares of the company’s stock worth $163,287,000 after acquiring an additional 1,316,233 shares during the last quarter. Jones Financial Companies Lllp increased its stake in Coca-Cola Consolidated by 265,541.3% during the first quarter. Jones Financial Companies Lllp now owns 502,062 shares of the company’s stock worth $677,784,000 after acquiring an additional 501,873 shares during the last quarter. Truist Financial Corp increased its stake in Coca-Cola Consolidated by 902.4% during the second quarter. Truist Financial Corp now owns 289,493 shares of the company’s stock worth $32,322,000 after acquiring an additional 260,612 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in Coca-Cola Consolidated by 548.0% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 226,905 shares of the company’s stock worth $25,334,000 after acquiring an additional 191,887 shares during the last quarter. Finally, Boston Partners increased its stake in Coca-Cola Consolidated by 676.9% during the first quarter. Boston Partners now owns 200,518 shares of the company’s stock worth $270,711,000 after acquiring an additional 174,709 shares during the last quarter. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Trading Up 0.9%

NASDAQ:COKE opened at $134.74 on Thursday. The company has a quick ratio of 1.78, a current ratio of 2.04 and a debt-to-equity ratio of 0.88. The business’s 50 day moving average is $122.60 and its two-hundred day moving average is $125.22. Coca-Cola Consolidated, Inc. has a 52 week low of $105.21 and a 52 week high of $146.09. The company has a market cap of $11.71 billion, a PE ratio of 19.18 and a beta of 0.69.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter. Coca-Cola Consolidated had a return on equity of 44.03% and a net margin of 8.66%.The business had revenue of $1.89 billion for the quarter.

Coca-Cola Consolidated Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, October 24th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, October 24th. This represents a $1.00 annualized dividend and a dividend yield of 0.7%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is 14.25%.

Analysts Set New Price Targets

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