Quantbot Technologies LP Takes $1.67 Million Position in Coca-Cola Consolidated, Inc. $COKE

Quantbot Technologies LP acquired a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 20,575 shares of the company’s stock, valued at approximately $1,672,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in COKE. BlackRock Inc. bought a new stake in Coca-Cola Consolidated during the 2nd quarter worth approximately $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Coca-Cola Consolidated in the second quarter valued at approximately $1,591,427,000. Deutsche Bank AG bought a new stake in shares of Coca-Cola Consolidated during the second quarter worth $1,346,125,000. Vanguard Group Inc. raised its holdings in shares of Coca-Cola Consolidated by 6.4% during the fourth quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company’s stock worth $871,673,000 after acquiring an additional 341,374 shares during the period. Finally, B. Metzler seel. Sohn & Co. AG bought a new stake in Coca-Cola Consolidated in the 2nd quarter valued at $272,683,000. 48.24% of the stock is currently owned by institutional investors.

Coca-Cola Consolidated Stock Up 1.9%

NASDAQ COKE opened at $192.60 on Tuesday. The firm’s 50 day moving average is $185.14 and its 200-day moving average is $186.25. The company has a market capitalization of $12.82 billion, a PE ratio of 25.54 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 12-month low of $110.60 and a 12-month high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its earnings results on Wednesday, August 5th. The company reported $2.83 EPS for the quarter. The business had revenue of $2.05 billion during the quarter. Coca-Cola Consolidated had a net margin of 7.15% and a negative return on equity of 1,041.59%.

Coca-Cola Consolidated Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Friday, July 24th. Coca-Cola Consolidated’s dividend payout ratio is currently 13.26%.

Wall Street Analyst Weigh In

Several research firms have issued reports on COKE. Wall Street Zen downgraded Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Coca-Cola Consolidated presently has an average rating of “Buy”.

About Coca-Cola Consolidated

Founded in 1902 and headquartered in Charlotte, North Carolina, Coca-Cola Consolidated, Inc is the largest independent bottler of Coca-Cola products in the United States. The company manufactures, sells and distributes a broad portfolio of sparkling and still beverages under exclusive agreements with The Coca-Cola Company. Its brand lineup includes Coca-Cola, Diet Coke, Sprite and Fanta, as well as noncarbonated offerings such as Minute Maid juices, Gold Peak teas, Dasani water, Powerade sports drinks and vitaminwater.

Coca-Cola Consolidated’s operations span 14 states and the District of Columbia across the Southeastern, South Central and Mid-Atlantic regions.