OneAscent Financial Services LLC bought a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 14,382 shares of the company’s stock, valued at approximately $1,169,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Ascentis Independent Advisors bought a new position in shares of Coca-Cola Consolidated during the 1st quarter valued at about $31,000. Torren Management LLC bought a new stake in Coca-Cola Consolidated during the fourth quarter worth approximately $29,000. Morse Asset Management Inc bought a new stake in Coca-Cola Consolidated during the fourth quarter worth approximately $31,000. Ballast Advisors LLC bought a new stake in Coca-Cola Consolidated during the first quarter worth approximately $38,000. Finally, Quarry LP acquired a new position in Coca-Cola Consolidated in the third quarter worth approximately $25,000. 48.24% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on COKE shares. Wall Street Zen cut Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy”.
Coca-Cola Consolidated Trading Up 0.4%
COKE stock opened at $187.60 on Friday. Coca-Cola Consolidated, Inc. has a one year low of $110.60 and a one year high of $219.65. The firm has a 50-day moving average of $184.97 and a two-hundred day moving average of $185.75. The firm has a market capitalization of $12.49 billion, a PE ratio of 24.88 and a beta of 0.55.
Coca-Cola Consolidated (NASDAQ:COKE – Get Free Report) last released its 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 net margin of 7.15% and a negative return on equity of 1,041.59%.
Coca-Cola Consolidated Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date was Friday, July 24th. Coca-Cola Consolidated’s payout ratio is presently 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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