Silverlake Wealth Management LLC Makes New $2.33 Million Investment in Coca-Cola Consolidated, Inc. $COKE

Silverlake Wealth Management LLC bought a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the 2nd quarter, Holdings Channel.com reports. The fund bought 28,607 shares of the company’s stock, valued at approximately $2,325,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Coca-Cola Consolidated by 8.7% in 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 buying an additional 1,385 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Coca-Cola Consolidated by 1,587.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 270 shares of the company’s stock worth $30,000 after acquiring an additional 254 shares during the period. 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 worth $1,113,000 after acquiring an additional 8,853 shares during the period. Marshall Wace LLP raised its holdings in Coca-Cola Consolidated by 5,152.8% in the 2nd quarter. Marshall Wace LLP now owns 18,910 shares of the company’s stock valued at $2,111,000 after acquiring an additional 18,550 shares in the last quarter. Finally, Cresset Asset Management LLC raised its holdings in Coca-Cola Consolidated by 169.0% in the 2nd quarter. Cresset Asset Management LLC now owns 4,589 shares of the company’s stock valued at $512,000 after acquiring an additional 2,883 shares in the last quarter. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Consolidated Trading Down 0.6%

NASDAQ COKE opened at $189.11 on Friday. The firm 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 50 day simple moving average is $184.81 and its 200 day simple moving average is $184.46. Coca-Cola Consolidated, Inc. has a 1 year low of $110.60 and a 1 year high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 EPS for the quarter. Coca-Cola Consolidated had a net margin of 7.15% and a negative return on equity of 1,041.59%. The business had revenue of $2.05 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were paid a $0.25 dividend. The ex-dividend date was Friday, July 24th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is presently 13.26%.

Analyst Ratings Changes

Several research firms have recently issued reports on COKE. Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. Wall Street Zen downgraded Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy”.

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.