Creative Planning Raises Stake in Coca-Cola Consolidated, Inc. $COKE

Creative Planning boosted its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 868.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,240 shares of the company’s stock after buying an additional 22,633 shares during the quarter. Creative Planning’s holdings in Coca-Cola Consolidated were worth $2,818,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. lifted its stake in Coca-Cola Consolidated by 900.0% in the second quarter. Resona Asset Management Co. Ltd. now owns 4,550 shares of the company’s stock valued at $508,000 after purchasing an additional 4,095 shares during the last quarter. Maryland State Retirement & Pension System lifted its position in shares of Coca-Cola Consolidated by 900.0% during the 2nd quarter. Maryland State Retirement & Pension System now owns 2,820 shares of the company’s stock valued at $315,000 after buying an additional 2,538 shares during the last quarter. Davis Investment Partners LLC lifted its position in shares of Coca-Cola Consolidated by 980.0% during the 2nd quarter. Davis Investment Partners LLC now owns 5,400 shares of the company’s stock valued at $624,000 after buying an additional 4,900 shares during the last quarter. Pullen Investment Management LLC grew its stake in shares of Coca-Cola Consolidated by 910.4% during the 2nd quarter. Pullen Investment Management LLC now owns 17,167 shares of the company’s stock worth $1,917,000 after acquiring an additional 15,468 shares during the period. Finally, VELA Investment Management LLC increased its holdings in Coca-Cola Consolidated by 905.9% in the 2nd 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 during the last quarter. Institutional investors own 48.24% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Coca-Cola Consolidated from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy”.

Coca-Cola Consolidated Price Performance

Coca-Cola Consolidated stock opened at $161.51 on Monday. The firm has a market capitalization of $13.80 billion, a P/E ratio of 22.99 and a beta of 0.69. Coca-Cola Consolidated, Inc. has a one year low of $105.21 and a one year high of $166.21. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.04 and a quick ratio of 1.78. The business has a fifty day moving average price of $131.00 and a 200-day moving average price of $127.36.

Coca-Cola Consolidated Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Friday, October 24th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Friday, October 24th. Coca-Cola Consolidated’s payout ratio is presently 14.25%.

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.