E Fund Management Co. Ltd. bought a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 41,569 shares of the company’s stock, valued at approximately $3,378,000.
Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Coca-Cola Consolidated by 6.4% during the fourth quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company’s stock worth $871,673,000 after purchasing an additional 341,374 shares during the last quarter. Catalyst Investment Management LLC bought a new stake in Coca-Cola Consolidated during the 2nd quarter worth about $573,000. Horizon Investments LLC lifted its position in Coca-Cola Consolidated by 1,655,666.7% during the 4th quarter. Horizon Investments LLC now owns 49,673 shares of the company’s stock worth $7,602,000 after buying an additional 49,670 shares in the last quarter. Vest Financial LLC boosted its stake in shares of Coca-Cola Consolidated by 60.8% during the 4th quarter. Vest Financial LLC now owns 232,597 shares of the company’s stock worth $35,657,000 after buying an additional 87,912 shares during the last quarter. Finally, James Investment Research Inc. boosted its stake in shares of Coca-Cola Consolidated by 62.2% during the 4th quarter. James Investment Research Inc. now owns 22,412 shares of the company’s stock worth $3,436,000 after buying an additional 8,593 shares during the last quarter. Institutional investors own 48.24% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the company. Wall Street Zen downgraded Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy”.
Coca-Cola Consolidated Stock Performance
Shares of COKE opened at $186.84 on Thursday. The firm has a market cap of $12.44 billion, a P/E ratio of 24.78 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 52 week low of $110.60 and a 52 week high of $219.65. The firm’s 50-day simple moving average is $184.95 and its 200 day simple moving average is $185.50.
Coca-Cola Consolidated (NASDAQ:COKE – Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $2.83 EPS for the quarter. The company 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 Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were issued 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 payout ratio is currently 13.26%.
About Coca-Cola Consolidated
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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