Zurcher Kantonalbank Zurich Cantonalbank Purchases 334 Shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 73.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 789 shares of the company’s stock after buying an additional 334 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Coca-Cola Consolidated were worth $856,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in COKE. Vanguard Group Inc. raised its holdings in Coca-Cola Consolidated by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 608,875 shares of the company’s stock valued at $515,358,000 after buying an additional 30,443 shares during the last quarter. Norges Bank bought a new position in shares of Coca-Cola Consolidated during the fourth quarter valued at $188,138,000. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Coca-Cola Consolidated by 88.0% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 112,156 shares of the company’s stock worth $121,689,000 after purchasing an additional 52,491 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Coca-Cola Consolidated by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 71,734 shares of the company’s stock worth $66,598,000 after purchasing an additional 1,049 shares during the last quarter. Finally, Hennessy Advisors Inc. increased its holdings in Coca-Cola Consolidated by 18.0% in the second quarter. Hennessy Advisors Inc. now owns 43,956 shares of the company’s stock valued at $47,692,000 after purchasing an additional 6,700 shares during the period. 48.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com lowered Coca-Cola Consolidated from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 23rd.

Coca-Cola Consolidated Stock Performance

Shares of COKE stock opened at $1,352.45 on Thursday. The stock has a market capitalization of $12.68 billion, a PE ratio of 27.85 and a beta of 0.78. The business’s 50 day simple moving average is $1,194.10 and its 200 day simple moving average is $1,000.16. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.97 and a quick ratio of 1.75. Coca-Cola Consolidated, Inc. has a one year low of $614.22 and a one year high of $1,374.25.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $20.71 EPS for the quarter. Coca-Cola Consolidated had a net margin of 7.52% and a return on equity of 44.83%. The company had revenue of $1.80 billion for the quarter.

Coca-Cola Consolidated Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.15%. The ex-dividend date of this dividend was Friday, July 26th. Coca-Cola Consolidated’s dividend payout ratio (DPR) is presently 20.59%.

Insider Activity

In other Coca-Cola Consolidated news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola Consolidated stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $925.00, for a total value of $553,722,575.00. Following the completion of the sale, the insider now directly owns 1,883,546 shares in the company, valued at $1,742,280,050. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Coca-Cola Consolidated Company Profile

Coca-Cola Consolidated, Inc, together with its subsidiaries, manufactures, markets, and distributes nonalcoholic beverages primarily products of The Coca-Cola Company in the United States. The company offers sparkling beverages; and still beverages, including energy products, as well as noncarbonated beverages comprising bottled water, ready to drink coffee and tea, enhanced water, juices, and sports drinks.