Coca-Cola Consolidated, Inc. $COKE Shares Bought by Lazard Asset Management LLC

Lazard Asset Management LLC grew its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 8.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,005 shares of the company’s stock after purchasing an additional 2,719 shares during the quarter. Lazard Asset Management LLC owned about 0.05% of Coca-Cola Consolidated worth $6,904,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in COKE. Vanguard Group Inc. boosted its position in shares of Coca-Cola Consolidated by 6.4% in the 4th quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company’s stock worth $871,673,000 after purchasing an additional 341,374 shares in the last quarter. Boston Partners increased its position in Coca-Cola Consolidated by 7.8% during the 4th quarter. Boston Partners now owns 2,329,643 shares of the company’s stock valued at $357,091,000 after buying an additional 169,555 shares in the last quarter. First Trust Advisors LP increased its position in Coca-Cola Consolidated by 42.1% during the 4th quarter. First Trust Advisors LP now owns 2,037,083 shares of the company’s stock valued at $312,285,000 after buying an additional 603,513 shares in the last quarter. State Street Corp raised its stake in Coca-Cola Consolidated by 836.9% in the second quarter. State Street Corp now owns 1,729,065 shares of the company’s stock valued at $193,050,000 after buying an additional 1,544,516 shares during the last quarter. Finally, Norges Bank purchased a new stake in Coca-Cola Consolidated in the fourth quarter valued at about $222,408,000. 48.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy”.

Coca-Cola Consolidated Trading Down 1.3%

Shares of Coca-Cola Consolidated stock opened at $189.83 on Friday. The firm’s 50 day simple moving average is $182.34 and its two-hundred day simple moving average is $181.98. The firm has a market capitalization of $12.64 billion, a price-to-earnings ratio of 25.97 and a beta of 0.54. Coca-Cola Consolidated, Inc. has a 12-month low of $110.40 and a 12-month high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $1.79 EPS for the quarter. Coca-Cola Consolidated had a net margin of 7.72% and a return on equity of 138.44%. The business had revenue of $1.71 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date is Friday, July 24th. Coca-Cola Consolidated’s payout ratio is presently 13.68%.

Coca-Cola Consolidated Company 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.