8,328 Shares in Coca-Cola Consolidated, Inc. $COKE Bought by Maridea Wealth Management LLC

Maridea Wealth Management LLC acquired a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 8,328 shares of the company’s stock, valued at approximately $677,000.

Several other institutional investors have also modified their holdings of COKE. State Street Corp raised its position in shares of Coca-Cola Consolidated by 836.9% during the 2nd quarter. State Street Corp now owns 1,729,065 shares of the company’s stock worth $193,050,000 after purchasing an additional 1,544,516 shares during the last quarter. Norges Bank acquired a new stake in Coca-Cola Consolidated in the 4th quarter worth about $222,408,000. AQR Capital Management LLC boosted its holdings in Coca-Cola Consolidated by 1,270.8% in the 2nd quarter. AQR Capital Management LLC now owns 1,185,937 shares of the company’s stock worth $131,906,000 after buying an additional 1,099,421 shares during the last quarter. First Trust Advisors LP increased its stake in Coca-Cola Consolidated by 42.1% during the 4th quarter. First Trust Advisors LP now owns 2,037,083 shares of the company’s stock worth $312,285,000 after buying an additional 603,513 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Coca-Cola Consolidated by 153,487.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 417,757 shares of the company’s stock worth $64,042,000 after buying an additional 417,485 shares in the last quarter. Institutional investors and hedge funds own 48.24% of the company’s stock.

Analyst Upgrades and Downgrades

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

Coca-Cola Consolidated Stock Down 0.6%

Shares of NASDAQ COKE opened at $189.11 on Friday. The firm has a 50-day simple moving average of $184.81 and a 200-day simple moving average of $184.46. The stock has a market capitalization of $12.59 billion, a price-to-earnings ratio of 25.08 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 52 week low of $110.60 and a 52 week high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share for the quarter. The firm had revenue of $2.05 billion for 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. Shareholders of record on Friday, July 24th were issued a $0.25 dividend. The ex-dividend date was Friday, July 24th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio is presently 13.26%.

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.