AXQ Capital LP Makes New Investment in Coca-Cola Consolidated, Inc. $COKE

AXQ Capital LP acquired a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,266 shares of the company’s stock, valued at approximately $253,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Nomura Asset Management Co. Ltd. increased its position in Coca-Cola Consolidated by 900.0% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the company’s stock valued at $26,000 after buying an additional 207 shares in the last quarter. OLD Point Trust & Financial Services N A raised its position in shares of Coca-Cola Consolidated by 900.0% during the second quarter. OLD Point Trust & Financial Services N A now owns 280 shares of the company’s stock worth $31,000 after purchasing an additional 252 shares during the period. Harbour Investments Inc. lifted its holdings in shares of Coca-Cola Consolidated by 1,071.4% in the 2nd quarter. Harbour Investments Inc. now owns 328 shares of the company’s stock worth $37,000 after purchasing an additional 300 shares in the last quarter. Eukles Asset Management grew its position in Coca-Cola Consolidated by 900.0% in the 2nd quarter. Eukles Asset Management now owns 340 shares of the company’s stock valued at $38,000 after purchasing an additional 306 shares during the period. Finally, Parkside Financial Bank & Trust increased its stake in Coca-Cola Consolidated by 2,442.9% during the 2nd quarter. Parkside Financial Bank & Trust now owns 356 shares of the company’s stock valued at $40,000 after purchasing an additional 342 shares in the last quarter. Institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Performance

NASDAQ COKE opened at $161.75 on Tuesday. The company has a fifty day moving average price of $131.80 and a 200-day moving average price of $127.66. The firm has a market cap of $13.82 billion, a price-to-earnings ratio of 23.03 and a beta of 0.69. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.04 and a quick ratio of 1.78. Coca-Cola Consolidated, Inc. has a 1 year low of $105.21 and a 1 year high of $166.21.

Coca-Cola Consolidated Announces Dividend

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of 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 MarketBeat, Coca-Cola Consolidated 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.