Coca-Cola Consolidated, Inc. $COKE Stock: Ritholtz Wealth Management Increases Holdings

Ritholtz Wealth Management grew its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 29.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,304 shares of the company’s stock after purchasing an additional 8,344 shares during the quarter. Ritholtz Wealth Management’s holdings in Coca-Cola Consolidated were worth $6,871,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Illinois Municipal Retirement Fund lifted its holdings in shares of Coca-Cola Consolidated by 19.5% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 43,776 shares of the company’s stock valued at $8,285,000 after purchasing an additional 7,147 shares during the last quarter. Triton Wealth Management PLLC acquired a new stake in shares of Coca-Cola Consolidated in the 3rd quarter worth $206,000. Csenge Advisory Group grew its stake in Coca-Cola Consolidated by 2.5% during the 3rd quarter. Csenge Advisory Group now owns 2,061 shares of the company’s stock worth $390,000 after buying an additional 50 shares during the last quarter. D Orazio & Associates Inc. grew its stake in Coca-Cola Consolidated by 18.7% during the 3rd quarter. D Orazio & Associates Inc. now owns 1,760 shares of the company’s stock worth $333,000 after buying an additional 277 shares during the last quarter. Finally, AlphaCore Capital LLC acquired a new position in Coca-Cola Consolidated during the 3rd quarter valued at about $292,000. 48.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on COKE shares. Weiss Ratings upgraded Coca-Cola Consolidated from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, October 16th. Wall Street Zen downgraded Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating. According to data from MarketBeat, the company has a consensus rating of “Buy”.

Coca-Cola Consolidated Stock Down 2.3%

COKE stock opened at $207.00 on Friday. The firm has a 50 day moving average of $199.69 and a 200 day moving average of $189.01. The stock has a market capitalization of $13.78 billion, a PE ratio of 24.24 and a beta of 0.56. Coca-Cola Consolidated, Inc. has a 52 week low of $142.83 and a 52 week high of $219.99.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $2.63 earnings per share (EPS) for the quarter. Coca-Cola Consolidated had a net margin of 7.49% and a negative return on equity of 115.21%. The business had revenue of $1.99 billion for the quarter.

Coca-Cola Consolidated Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 6th. Stockholders of record on Friday, October 23rd were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Friday, October 23rd. Coca-Cola Consolidated’s payout ratio is presently 11.71%.

Coca-Cola Consolidated Company Profile

Coca-Cola Consolidated, Inc. is a beverage bottler, manufacturer and distributor headquartered in Charlotte, North Carolina. The company traces its roots to 1902 and is the largest independent Coca-Cola bottler in the United States. Its business includes producing, selling and distributing a wide range of nonalcoholic beverages. Its portfolio includes Coca-Cola products and other brands such as Sprite, Fanta, Dasani and Powerade, along with beverages from additional brand partners. Coca-Cola Consolidated serves customers across portions of the Southeast, Mid-Atlantic and Midwest, including parts of 14 states and the District of Columbia.