Walleye Capital LLC Boosts Stock Holdings in Coca-Cola Consolidated, Inc. $COKE

Walleye Capital LLC grew its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 286.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,920 shares of the company’s stock after buying an additional 6,609 shares during the quarter. Walleye Capital LLC’s holdings in Coca-Cola Consolidated were worth $996,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new stake in Coca-Cola Consolidated during the 2nd quarter valued at about $280,669,000. Boston Partners lifted its position in Coca-Cola Consolidated by 942.2% in the second quarter. Boston Partners now owns 2,089,876 shares of the company’s stock valued at $233,345,000 after purchasing an additional 1,889,358 shares during the last quarter. Diversified Trust Co boosted its stake in shares of Coca-Cola Consolidated by 900.0% during the second quarter. Diversified Trust Co now owns 1,462,487 shares of the company’s stock valued at $163,287,000 after purchasing an additional 1,316,233 shares during the period. Geode Capital Management LLC grew its holdings in shares of Coca-Cola Consolidated by 882.9% in the second quarter. Geode Capital Management LLC now owns 1,302,088 shares of the company’s stock worth $145,398,000 after purchasing an additional 1,169,611 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Coca-Cola Consolidated by 905.0% in the second quarter. First Trust Advisors LP now owns 653,655 shares of the company’s stock worth $72,981,000 after purchasing an additional 588,612 shares during the last quarter. Institutional investors own 48.24% of the company’s stock.

Analysts Set New Price Targets

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

Coca-Cola Consolidated Trading Down 0.6%

COKE opened at $162.33 on Thursday. Coca-Cola Consolidated, Inc. has a one year low of $105.21 and a one year high of $168.21. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.04 and a quick ratio of 1.79. The business has a 50 day simple moving average of $143.37 and a two-hundred day simple moving average of $131.64. The firm has a market capitalization of $13.87 billion, a price-to-earnings ratio of 23.11 and a beta of 0.63.

Coca-Cola Consolidated Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 7th. Investors 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 dividend yield of 0.6%. The ex-dividend date was Friday, October 24th. Coca-Cola Consolidated’s dividend payout ratio is currently 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.