Mission Financial Group LLC bought a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,740 shares of the company’s stock, valued at approximately $223,000.
Other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Coca-Cola Consolidated in the 2nd quarter valued at $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Coca-Cola Consolidated during the 2nd quarter worth $1,591,427,000. GQG Partners LLC acquired a new position in Coca-Cola Consolidated in the 2nd quarter worth about $1,494,498,000. Deutsche Bank AG acquired a new position in Coca-Cola Consolidated in the 2nd quarter worth about $1,346,125,000. Finally, Vanguard Group Inc. raised its position in Coca-Cola Consolidated by 6.4% in the fourth quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company’s stock valued at $871,673,000 after purchasing an additional 341,374 shares during the last quarter. 48.24% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
COKE has been the topic of a number of recent research reports. Wall Street Zen lowered Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. One research 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 Price Performance
COKE stock opened at $189.10 on Monday. The firm has a market cap of $12.59 billion, a price-to-earnings ratio of 25.08 and a beta of 0.55. The company’s fifty day simple moving average is $185.00 and its 200 day simple moving average is $185.99. Coca-Cola Consolidated, Inc. has a 12-month low of $110.60 and a 12-month high of $219.65.
Coca-Cola Consolidated (NASDAQ:COKE – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share for the quarter. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%.The firm had revenue of $2.05 billion during the quarter.
Coca-Cola Consolidated Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were paid 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 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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