Lazard Asset Management LLC Buys 452 Shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Lazard Asset Management LLC lifted its stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 3.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,571 shares of the company’s stock after buying an additional 452 shares during the period. Lazard Asset Management LLC’s holdings in Coca-Cola Consolidated were worth $13,179,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new stake in shares of Coca-Cola Consolidated in the 1st quarter worth approximately $30,000. Quest Partners LLC bought a new position in Coca-Cola Consolidated in the fourth quarter worth $31,000. CWM LLC boosted its stake in Coca-Cola Consolidated by 22.2% during the fourth quarter. CWM LLC now owns 66 shares of the company’s stock worth $61,000 after buying an additional 12 shares in the last quarter. OLD Point Trust & Financial Services N A bought a new stake in Coca-Cola Consolidated in the 4th quarter valued at $93,000. Finally, Principal Securities Inc. acquired a new position in shares of Coca-Cola Consolidated in the 4th quarter valued at $97,000. 48.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Coca-Cola Consolidated Price Performance

Shares of NASDAQ:COKE traded up $27.12 on Friday, hitting $1,130.65. The stock had a trading volume of 33,543 shares, compared to its average volume of 75,433. Coca-Cola Consolidated, Inc. has a twelve month low of $614.22 and a twelve month high of $1,135.00. The company has a market capitalization of $10.59 billion, a price-to-earnings ratio of 23.28 and a beta of 0.78. The firm’s 50 day moving average price is $1,041.48 and its 200-day moving average price is $921.75. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.47 and a current ratio of 1.87.

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

Coca-Cola Consolidated Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 26th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.18%. The ex-dividend date is Friday, July 26th. Coca-Cola Consolidated’s dividend payout ratio is currently 4.12%.

Insiders Place Their Bets

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 sale, the insider now owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

About Coca-Cola Consolidated

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.