Wallace Capital Management Inc. Purchases Shares of 83,322 Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Wallace Capital Management Inc. purchased a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 83,322 shares of the company’s stock, valued at approximately $90,404,000. Coca-Cola Consolidated comprises approximately 11.6% of Wallace Capital Management Inc.’s investment portfolio, making the stock its 4th largest holding.

Several other large investors have also recently added to or reduced their stakes in COKE. UBS Group AG grew its position in Coca-Cola Consolidated by 56.2% during the 4th quarter. UBS Group AG now owns 8,535 shares of the company’s stock worth $7,924,000 after acquiring an additional 3,070 shares during the last quarter. Corient Private Wealth LLC grew its position in Coca-Cola Consolidated by 98.2% during the 4th quarter. Corient Private Wealth LLC now owns 1,203 shares of the company’s stock worth $1,117,000 after acquiring an additional 596 shares during the last quarter. Franklin Resources Inc. grew its position in Coca-Cola Consolidated by 1.2% during the 4th quarter. Franklin Resources Inc. now owns 1,471 shares of the company’s stock worth $1,366,000 after acquiring an additional 17 shares during the last quarter. Commerce Bank bought a new stake in Coca-Cola Consolidated during the 4th quarter worth approximately $231,000. Finally, Alberta Investment Management Corp bought a new stake in Coca-Cola Consolidated during the 4th quarter worth approximately $325,000. Institutional investors and hedge funds own 48.24% of the company’s stock.

Insider Buying and Selling at Coca-Cola Consolidated

In other news, major shareholder Cola Co Coca sold 598,619 shares of the firm’s 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 directly owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Coca-Cola Consolidated Stock Up 0.7 %

Shares of COKE opened at $1,295.96 on Monday. The firm has a market capitalization of $12.15 billion, a price-to-earnings ratio of 26.69 and a beta of 0.82. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.75 and a current ratio of 1.97. The business’s fifty day moving average price is $1,265.10 and its two-hundred day moving average price is $1,056.72. Coca-Cola Consolidated, Inc. has a 52 week low of $614.22 and a 52 week high of $1,376.84.

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

Coca-Cola Consolidated Increases Dividend

The company also recently disclosed a dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 25th will be given a $2.50 dividend. This is a positive change from Coca-Cola Consolidated’s previous dividend of $0.25. The ex-dividend date is Friday, October 25th. Coca-Cola Consolidated’s dividend payout ratio (DPR) is presently 20.59%.

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.