Truist Financial Corp Grows Holdings in Coca-Cola Consolidated, Inc. $COKE

Truist Financial Corp boosted its holdings in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 902.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 289,493 shares of the company’s stock after acquiring an additional 260,612 shares during the period. Truist Financial Corp owned 0.33% of Coca-Cola Consolidated worth $32,322,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of COKE. Wayfinding Financial LLC bought a new position in shares of Coca-Cola Consolidated during the first quarter valued at approximately $46,000. Semmax Financial Advisors Inc. purchased a new stake in shares of Coca-Cola Consolidated in the 1st quarter worth approximately $50,000. Allworth Financial LP increased its position in Coca-Cola Consolidated by 58.3% during the 1st quarter. Allworth Financial LP now owns 57 shares of the company’s stock valued at $79,000 after buying an additional 21 shares in the last quarter. Fifth Third Bancorp raised its stake in Coca-Cola Consolidated by 40.9% during the first quarter. Fifth Third Bancorp now owns 62 shares of the company’s stock valued at $84,000 after buying an additional 18 shares during the last quarter. Finally, Spire Wealth Management boosted its holdings in Coca-Cola Consolidated by 115.6% in the first quarter. Spire Wealth Management now owns 69 shares of the company’s stock worth $92,000 after acquiring an additional 37 shares in the last quarter. Institutional investors own 48.24% of the company’s stock.

Analyst Upgrades and Downgrades

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

Coca-Cola Consolidated Stock Up 0.3%

Coca-Cola Consolidated stock opened at $119.30 on Friday. Coca-Cola Consolidated, Inc. has a 12 month low of $105.21 and a 12 month high of $146.09. The stock has a fifty day simple moving average of $116.66 and a two-hundred day simple moving average of $126.53. 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 market cap of $10.37 billion, a price-to-earnings ratio of 17.80 and a beta of 0.70.

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

Coca-Cola Consolidated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Friday, July 25th were paid a $0.25 dividend. The ex-dividend date was Friday, July 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. Coca-Cola Consolidated’s payout ratio is currently 14.93%.

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.