Magnetar Financial LLC Purchases New Shares in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Magnetar Financial LLC purchased a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the first quarter, HoldingsChannel reports. The fund purchased 789 shares of the company’s stock, valued at approximately $668,000.

Other hedge funds also recently bought and sold shares of the company. Xponance Inc. raised its stake in shares of Coca-Cola Consolidated by 1.8% in the fourth quarter. Xponance Inc. now owns 690 shares of the company’s stock valued at $641,000 after acquiring an additional 12 shares during the period. CWM LLC raised its stake in shares of Coca-Cola Consolidated by 22.2% in the fourth quarter. CWM LLC now owns 66 shares of the company’s stock valued at $61,000 after acquiring an additional 12 shares during the period. Inspire Investing LLC raised its stake in shares of Coca-Cola Consolidated by 3.1% in the first quarter. Inspire Investing LLC now owns 426 shares of the company’s stock valued at $361,000 after acquiring an additional 13 shares during the period. Comerica Bank raised its stake in shares of Coca-Cola Consolidated by 0.9% in the fourth quarter. Comerica Bank now owns 1,554 shares of the company’s stock valued at $1,442,000 after acquiring an additional 14 shares during the period. Finally, Meritage Portfolio Management raised its stake in shares of Coca-Cola Consolidated by 2.1% in the fourth quarter. Meritage Portfolio Management now owns 743 shares of the company’s stock valued at $690,000 after acquiring an additional 15 shares during the period. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Trading Up 0.4 %

COKE stock traded up $5.00 during trading on Monday, hitting $1,135.65. The company had a trading volume of 3,525 shares, compared to its average volume of 54,251. The firm has a market capitalization of $10.64 billion, a P/E ratio of 23.28 and a beta of 0.78. Coca-Cola Consolidated, Inc. has a 52-week low of $614.22 and a 52-week high of $1,135.65. The company has a 50 day simple moving average of $1,041.48 and a 200-day simple moving average of $921.86. The company has a quick ratio of 1.47, a current ratio of 1.87 and a debt-to-equity ratio of 0.38.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings results on Monday, May 6th. The company reported $17.31 EPS for the quarter. The company had revenue of $1.59 billion for the quarter. Coca-Cola Consolidated had a net margin of 6.83% and a return on equity of 42.10%.

Coca-Cola Consolidated Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 26th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.18%. The ex-dividend date of this dividend is Friday, July 26th. Coca-Cola Consolidated’s dividend payout ratio is presently 4.12%.

Insider Buying and Selling

In other Coca-Cola Consolidated news, major shareholder Cola Co Coca sold 598,619 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the transaction, the insider now directly owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analysts Set New Price Targets

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

Coca-Cola Consolidated 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.