PNC Financial Services Group Inc. Purchases 2,170 Shares of Coca-Cola Consolidated, Inc. $COKE

PNC Financial Services Group Inc. boosted its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 915.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,407 shares of the company's stock after buying an additional 2,170 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Coca-Cola Consolidated were worth $269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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Several other large investors have also recently made changes to their positions in COKE. Resona Asset Management Co. Ltd. lifted its stake in Coca-Cola Consolidated by 900.0% in the second quarter. Resona Asset Management Co. Ltd. now owns 4,550 shares of the company's stock worth $508,000 after purchasing an additional 4,095 shares during the last quarter. Maryland State Retirement & Pension System increased its holdings in shares of Coca-Cola Consolidated by 900.0% in the second quarter. Maryland State Retirement & Pension System now owns 2,820 shares of the company's stock worth $315,000 after buying an additional 2,538 shares during the period. Davis Investment Partners LLC lifted its stake in shares of Coca-Cola Consolidated by 980.0% in the 2nd quarter. Davis Investment Partners LLC now owns 5,400 shares of the company's stock valued at $624,000 after acquiring an additional 4,900 shares during the last quarter. Pullen Investment Management LLC boosted its holdings in Coca-Cola Consolidated by 910.4% during the 2nd quarter. Pullen Investment Management LLC now owns 17,167 shares of the company's stock valued at $1,917,000 after acquiring an additional 15,468 shares during the period. Finally, VELA Investment Management LLC boosted its holdings in Coca-Cola Consolidated by 905.9% during the 2nd quarter. VELA Investment Management LLC now owns 39,735 shares of the company's stock valued at $4,436,000 after acquiring an additional 35,785 shares during the period. 48.24% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Stock Performance

Coca-Cola Consolidated stock opened at $163.91 on Thursday. The company has a current ratio of 2.04, a quick ratio of 1.78 and a debt-to-equity ratio of 0.88. The firm has a market cap of $14.01 billion, a P/E ratio of 23.34 and a beta of 0.69. Coca-Cola Consolidated, Inc. has a 1-year low of $105.21 and a 1-year high of $166.21. The firm has a 50-day moving average of $133.60 and a 200-day moving average of $128.25.

Coca-Cola Consolidated Announces Dividend

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The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Friday, October 24th were given 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 was Friday, October 24th. Coca-Cola Consolidated's dividend payout ratio (DPR) is currently 14.25%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Coca-Cola Consolidated from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy".

• Coca-Cola Stock Analysis: Key Insights and Trends

Read Our Latest Stock Report on COKE

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.

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