SCS Capital Management LLC Invests $25.21 Million in Coca-Cola Consolidated, Inc. $COKE

SCS Capital Management LLC bought a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 308,044 shares of the company’s stock, valued at approximately $25,210,000.

Several other hedge funds and other institutional investors have also made changes to their positions in COKE. Vanguard Group Inc. increased its holdings in Coca-Cola Consolidated by 6.4% in the 4th quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company’s stock valued at $871,673,000 after purchasing an additional 341,374 shares in the last quarter. Horizon Investments LLC lifted its stake in shares of Coca-Cola Consolidated by 1,655,666.7% during the fourth quarter. Horizon Investments LLC now owns 49,673 shares of the company’s stock worth $7,602,000 after purchasing an additional 49,670 shares in the last quarter. Vest Financial LLC boosted its position in shares of Coca-Cola Consolidated by 60.8% in the fourth quarter. Vest Financial LLC now owns 232,597 shares of the company’s stock worth $35,657,000 after buying an additional 87,912 shares during the period. James Investment Research Inc. boosted its position in shares of Coca-Cola Consolidated by 62.2% in the fourth quarter. James Investment Research Inc. now owns 22,412 shares of the company’s stock worth $3,436,000 after buying an additional 8,593 shares during the period. Finally, Walleye Capital LLC grew its stake in shares of Coca-Cola Consolidated by 285.2% in the first quarter. Walleye Capital LLC now owns 86,972 shares of the company’s stock valued at $16,676,000 after buying an additional 64,396 shares in the last quarter. Institutional investors and hedge funds own 48.24% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Wall Street Zen downgraded Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Coca-Cola Consolidated currently has an average rating of “Buy”.

Coca-Cola Consolidated Price Performance

Coca-Cola Consolidated stock opened at $189.11 on Friday. Coca-Cola Consolidated, Inc. has a 12-month low of $110.60 and a 12-month high of $219.65. The company has a market capitalization of $12.59 billion, a price-to-earnings ratio of 25.08 and a beta of 0.55. The firm’s fifty day moving average price is $184.81 and its 200 day moving average price is $184.46.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 EPS 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 was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, July 24th. Coca-Cola Consolidated’s payout ratio is presently 13.26%.

Coca-Cola Consolidated Profile

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.