Focused Wealth Management Inc Purchases Shares of 3,748 Coca-Cola Consolidated, Inc. $COKE

Focused Wealth Management Inc acquired a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,748 shares of the company’s stock, valued at approximately $305,000.

Several other hedge funds have also recently added to or reduced their stakes in COKE. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Coca-Cola Consolidated by 8.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,251 shares of the company’s stock valued at $23,289,000 after purchasing an additional 1,385 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Coca-Cola Consolidated by 1,587.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 270 shares of the company’s stock valued at $30,000 after buying an additional 254 shares in the last quarter. Baird Financial Group Inc. increased its stake in Coca-Cola Consolidated by 795.4% during the 2nd quarter. Baird Financial Group Inc. now owns 9,966 shares of the company’s stock valued at $1,113,000 after buying an additional 8,853 shares during the period. Marshall Wace LLP raised its position in shares of Coca-Cola Consolidated by 5,152.8% during the 2nd quarter. Marshall Wace LLP now owns 18,910 shares of the company’s stock worth $2,111,000 after buying an additional 18,550 shares in the last quarter. Finally, Cresset Asset Management LLC raised its position in shares of Coca-Cola Consolidated by 169.0% during the 2nd quarter. Cresset Asset Management LLC now owns 4,589 shares of the company’s stock worth $512,000 after buying an additional 2,883 shares in the last quarter. Institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Down 1.5%

Shares of NASDAQ COKE opened at $186.21 on Tuesday. The stock has a market capitalization of $12.39 billion, a price-to-earnings ratio of 24.70 and a beta of 0.55. The stock’s fifty day simple moving average is $184.96 and its 200 day simple moving average is $184.96. 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 announced its earnings results on Wednesday, August 5th. The company reported $2.83 EPS for the quarter. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%.The business had revenue of $2.05 billion during the quarter.

Coca-Cola Consolidated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend 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 currently 13.26%.

Wall Street Analyst Weigh In

A number of research firms recently commented on COKE. Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. Wall Street Zen lowered Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Coca-Cola Consolidated presently has an average rating of “Buy”.

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.