Boston Partners Buys Shares of 10,197 Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Boston Partners purchased a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 10,197 shares of the company’s stock, valued at approximately $8,630,000.

Other hedge funds have also made changes to their positions in the company. EntryPoint Capital LLC acquired a new stake in Coca-Cola Consolidated in the 1st quarter worth approximately $30,000. Quest Partners LLC acquired a new position in Coca-Cola Consolidated in the 4th quarter valued at $31,000. CWM LLC grew its stake in Coca-Cola Consolidated by 22.2% in the 4th quarter. CWM LLC now owns 66 shares of the company’s stock valued at $61,000 after buying an additional 12 shares during the last quarter. OLD Point Trust & Financial Services N A bought a new position in Coca-Cola Consolidated in the 4th quarter worth $93,000. Finally, Principal Securities Inc. acquired a new position in Coca-Cola Consolidated during the 4th quarter worth $97,000. Institutional investors and hedge funds own 48.24% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Coca-Cola Consolidated from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 23rd.

Insider Buying and Selling at Coca-Cola Consolidated

In other news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola Consolidated stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the sale, the insider now owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Coca-Cola Consolidated Stock Performance

Shares of COKE stock traded up $32.91 during trading hours on Friday, reaching $1,274.29. 69,511 shares of the company’s stock were exchanged, compared to its average volume of 43,893. Coca-Cola Consolidated, Inc. has a fifty-two week low of $614.22 and a fifty-two week high of $1,305.78. The company has a quick ratio of 1.47, a current ratio of 1.97 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $11.94 billion, a P/E ratio of 26.24 and a beta of 0.78. The business has a fifty day moving average price of $1,061.95 and a 200-day moving average price of $931.17.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its quarterly earnings results on Monday, May 6th. The company reported $17.31 earnings per share for the quarter. The firm had revenue of $1.59 billion during the quarter. Coca-Cola Consolidated had a net margin of 7.52% and a return on equity of 44.83%.

Coca-Cola Consolidated Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 26th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, July 26th. This represents a $2.00 annualized dividend and a yield of 0.16%. Coca-Cola Consolidated’s dividend payout ratio is 4.12%.

About Coca-Cola Consolidated

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.