MAI Capital Management Grows Stock Position in Coca-Cola Consolidated, Inc. $COKE

MAI Capital Management boosted its holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 969.9% during the second quarter, Holdings Channel.com reports. The fund owned 1,209 shares of the company’s stock after acquiring an additional 1,096 shares during the period. MAI Capital Management’s holdings in Coca-Cola Consolidated were worth $135,000 at the end of the most recent reporting period.

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

Coca-Cola Consolidated Price Performance

Shares of NASDAQ COKE opened at $162.79 on Friday. The stock has a market cap of $13.91 billion, a P/E ratio of 23.18 and a beta of 0.69. The firm’s 50-day simple moving average is $135.63 and its 200 day simple moving average is $128.81. Coca-Cola Consolidated, Inc. has a fifty-two week low of $105.21 and a fifty-two week high of $166.21. The company has a quick ratio of 1.78, a current ratio of 2.04 and a debt-to-equity ratio of 0.88.

Coca-Cola Consolidated Dividend Announcement

The business also recently declared 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 of this dividend was Friday, October 24th. Coca-Cola Consolidated’s dividend payout ratio is currently 14.25%.

Analyst Ratings Changes

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