William Blair Investment Management LLC bought a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE – Free Report) in the second quarter, Holdings Channel reports. The fund bought 5,952 shares of the company’s stock, valued at approximately $484,000.
Other large investors have also recently bought and sold shares of the company. Ascentis Independent Advisors bought a new position in shares of Coca-Cola Consolidated in the first quarter valued at approximately $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 acquired a new stake in Coca-Cola Consolidated in the fourth quarter worth approximately $31,000. Ballast Advisors LLC acquired a new stake in Coca-Cola Consolidated in the first quarter worth approximately $38,000. Finally, Quarry LP bought a new position in Coca-Cola Consolidated during the 3rd quarter valued at $25,000. Institutional investors and hedge funds own 48.24% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. Wall Street Zen lowered Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Coca-Cola Consolidated has an average rating of “Buy”.
Coca-Cola Consolidated Price Performance
NASDAQ COKE opened at $189.10 on Monday. Coca-Cola Consolidated, Inc. has a 12 month low of $110.60 and a 12 month high of $219.65. The company has a market capitalization of $12.59 billion, a P/E ratio of 25.08 and a beta of 0.55. The company’s 50 day simple moving average is $185.00 and its 200 day simple moving average is $185.99.
Coca-Cola Consolidated (NASDAQ:COKE – Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share for the quarter. The firm had revenue of $2.05 billion during 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 Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, July 24th. Coca-Cola Consolidated’s dividend payout ratio is currently 13.26%.
Coca-Cola Consolidated Company 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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