Insight Wealth Partners LLC acquired a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE – Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,636 shares of the company’s stock, valued at approximately $296,000.
Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of Coca-Cola Consolidated by 836.9% in the 2nd quarter. State Street Corp now owns 1,729,065 shares of the company’s stock worth $193,050,000 after purchasing an additional 1,544,516 shares during the last quarter. Norges Bank bought a new position in shares of Coca-Cola Consolidated during the fourth quarter worth about $222,408,000. AQR Capital Management LLC grew its stake in Coca-Cola Consolidated by 1,270.8% in the second quarter. AQR Capital Management LLC now owns 1,185,937 shares of the company’s stock worth $131,906,000 after purchasing an additional 1,099,421 shares in the last quarter. First Trust Advisors LP grew its stake in Coca-Cola Consolidated by 42.1% in the fourth quarter. First Trust Advisors LP now owns 2,037,083 shares of the company’s stock worth $312,285,000 after purchasing an additional 603,513 shares in the last quarter. Finally, ABN AMRO Bank N.V. bought a new stake in Coca-Cola Consolidated in the second quarter valued at about $47,608,000. 48.24% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
COKE has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. Wall Street Zen cut Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy”.
Coca-Cola Consolidated Stock Performance
NASDAQ:COKE opened at $189.11 on Monday. The firm has a market capitalization of $12.59 billion, a PE ratio of 25.08 and a beta of 0.55. The stock has a 50 day moving average of $184.81 and a 200-day moving average of $184.70. Coca-Cola Consolidated, Inc. has a 52 week low of $110.60 and a 52 week high of $219.65.
Coca-Cola Consolidated (NASDAQ:COKE – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share for the quarter. The business had revenue of $2.05 billion for the quarter. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%.
Coca-Cola Consolidated Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, July 24th. This represents a $1.00 annualized dividend and a yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is currently 13.26%.
Coca-Cola Consolidated 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.
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