Northwestern Mutual Wealth Management Co. Buys Shares of 440,765 Coca-Cola Consolidated, Inc. $COKE

Northwestern Mutual Wealth Management Co. bought a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 440,765 shares of the company’s stock, valued at approximately $35,821,000. Northwestern Mutual Wealth Management Co. owned 0.66% of Coca-Cola Consolidated at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Bessemer Group Inc. lifted its holdings in shares of Coca-Cola Consolidated by 19.1% in the 1st quarter. Bessemer Group Inc. now owns 331 shares of the company’s stock worth $63,000 after acquiring an additional 53 shares during the last quarter. Beacon Pointe Advisors LLC boosted its position in shares of Coca-Cola Consolidated by 2.6% during the 4th quarter. Beacon Pointe Advisors LLC now owns 2,842 shares of the company’s stock worth $436,000 after purchasing an additional 72 shares during the period. Wealthfront Advisers LLC increased its holdings in Coca-Cola Consolidated by 4.1% in the 1st quarter. Wealthfront Advisers LLC now owns 1,869 shares of the company’s stock valued at $358,000 after purchasing an additional 73 shares during the last quarter. UMB Bank n.a. increased its holdings in Coca-Cola Consolidated by 8.9% in the 4th quarter. UMB Bank n.a. now owns 951 shares of the company’s stock valued at $146,000 after purchasing an additional 78 shares during the last quarter. Finally, Private Advisor Group LLC raised its position in Coca-Cola Consolidated by 2.2% in the third quarter. Private Advisor Group LLC now owns 4,297 shares of the company’s stock valued at $503,000 after purchasing an additional 94 shares during the period. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

COKE has been the topic of a number of research reports. Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. Wall Street Zen downgraded Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy”.

Coca-Cola Consolidated Stock Performance

Shares of COKE stock opened at $189.10 on Friday. The stock has a market capitalization of $12.59 billion, a P/E ratio of 25.08 and a beta of 0.55. The company has a 50 day moving average price of $185.00 and a 200 day moving average price of $185.77. Coca-Cola Consolidated, Inc. has a fifty-two week low of $110.60 and a fifty-two week high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share 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 Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend was Friday, July 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio is currently 13.26%.

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.