Seven Eight Capital LP Acquires New Stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Seven Eight Capital LP acquired a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,691 shares of the company’s stock, valued at approximately $1,835,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. EntryPoint Capital LLC acquired a new stake in shares of Coca-Cola Consolidated during the 1st quarter worth about $30,000. Quest Partners LLC purchased a new position in shares of Coca-Cola Consolidated during the fourth quarter valued at approximately $31,000. EverSource Wealth Advisors LLC boosted its position in Coca-Cola Consolidated by 102.9% during the first quarter. EverSource Wealth Advisors LLC now owns 69 shares of the company’s stock worth $57,000 after acquiring an additional 35 shares during the last quarter. GAMMA Investing LLC grew its stake in Coca-Cola Consolidated by 137.0% in the 2nd quarter. GAMMA Investing LLC now owns 64 shares of the company’s stock worth $69,000 after acquiring an additional 37 shares during the period. Finally, CWM LLC grew its stake in Coca-Cola Consolidated by 30.3% in the 1st quarter. CWM LLC now owns 86 shares of the company’s stock worth $73,000 after acquiring an additional 20 shares during the period. Institutional investors and hedge funds own 48.24% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Coca-Cola Consolidated Stock Performance

NASDAQ COKE opened at $1,265.62 on Thursday. The business’s 50-day moving average price is $1,235.86 and its 200 day moving average price is $1,032.46. The company has a current ratio of 1.97, a quick ratio of 1.75 and a debt-to-equity ratio of 1.50. Coca-Cola Consolidated, Inc. has a twelve month low of $614.22 and a twelve month high of $1,376.84. The company has a market capitalization of $11.86 billion, a PE ratio of 26.06 and a beta of 0.82.

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

Coca-Cola Consolidated Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $2.00 annualized dividend and a dividend yield of 0.16%. Coca-Cola Consolidated’s dividend payout ratio is presently 20.59%.

Insider Transactions at Coca-Cola Consolidated

In related news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola Consolidated stock in a transaction 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 transaction, the insider now owns 1,883,546 shares in the company, valued at $1,742,280,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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.