Maridea Wealth Management LLC acquired a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) 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.

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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".

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View Our Latest Stock Analysis on COKE

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.

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Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) 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

(Free Report)

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.

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