Wallace Capital Management Inc. Makes New Investment in Coca-Cola Consolidated, Inc. $COKE

Wallace Capital Management Inc. bought a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 26,328 shares of the company’s stock, valued at approximately $2,140,000. Coca-Cola Consolidated makes up approximately 0.2% of Wallace Capital Management Inc.’s investment portfolio, making the stock its 25th largest holding.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Coca-Cola Consolidated by 6.4% in the 4th quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company’s stock valued at $871,673,000 after buying an additional 341,374 shares during the last quarter. Catalyst Investment Management LLC bought a new stake in shares of Coca-Cola Consolidated during the second quarter worth $573,000. Caisse de depot et placement du Quebec bought a new stake in shares of Coca-Cola Consolidated during the second quarter worth $291,152,000. Horizon Investments LLC lifted its stake in shares of Coca-Cola Consolidated by 1,655,666.7% during the fourth quarter. Horizon Investments LLC now owns 49,673 shares of the company’s stock valued at $7,602,000 after acquiring an additional 49,670 shares during the period. Finally, Argyle Capital Partners LLC acquired a new position in shares of Coca-Cola Consolidated during the second quarter valued at $479,000. Institutional investors own 48.24% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on COKE. Wall Street Zen lowered Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings restated 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 MarketBeat, the company presently has an average rating of “Buy”.

Coca-Cola Consolidated Price Performance

Shares of COKE stock opened at $194.02 on Thursday. The stock has a market cap of $12.91 billion, a PE ratio of 25.73 and a beta of 0.55. The stock has a 50-day moving average of $185.56 and a 200-day moving average of $186.85. Coca-Cola Consolidated, Inc. has a one year low of $110.60 and a one year high of $219.65.

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

Coca-Cola Consolidated Dividend Announcement

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

Coca-Cola Consolidated Company Profile

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.