MBL Wealth LLC Purchases 3,964 Shares of Coca-Cola Consolidated, Inc. $COKE

MBL Wealth LLC acquired a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,964 shares of the company’s stock, valued at approximately $750,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Coca-Cola Consolidated in the 2nd quarter valued at about $26,229,118,000. Legal & General Group Plc acquired a new stake in shares of Coca-Cola Consolidated during the second quarter worth approximately $1,978,267,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Coca-Cola Consolidated during the second quarter worth approximately $1,591,427,000. GQG Partners LLC acquired a new stake in shares of Coca-Cola Consolidated during the second quarter worth approximately $1,494,498,000. Finally, Deutsche Bank AG purchased a new position in Coca-Cola Consolidated during the second quarter valued at approximately $1,346,125,000. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on COKE shares. Weiss Ratings upgraded shares of 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 shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating. According to data from MarketBeat, Coca-Cola Consolidated currently has a consensus rating of “Buy”.

Coca-Cola Consolidated Stock Performance

NASDAQ:COKE opened at $203.31 on Friday. The stock’s 50 day moving average price is $194.92 and its 200 day moving average price is $188.41. Coca-Cola Consolidated, Inc. has a 52 week low of $126.00 and a 52 week high of $219.65. The company has a market capitalization of $13.53 billion, a P/E ratio of 26.96 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its quarterly earnings data 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 announced a quarterly dividend, which will be paid on Friday, November 6th. Shareholders of record on Friday, October 23rd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Friday, October 23rd. Coca-Cola Consolidated’s dividend payout ratio is presently 13.26%.

Coca-Cola Consolidated Company Profile

Coca-Cola Consolidated, Inc is the largest Coca-Cola bottler in the United States. Based in Charlotte, North Carolina, the company produces, sells, markets and distributes a broad portfolio of nonalcoholic beverages for The Coca-Cola Company and other brand owners.

Its products include Coca-Cola, Diet Coke, Coca-Cola Zero Sugar, Sprite, Fanta, DASANI, smartwater, POWERADE, Minute Maid and fairlife, along with other soft drinks, water, sports drinks, juices, dairy beverages and emerging beverage brands.