Gallagher Fiduciary Advisors LLC purchased a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE – Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 15,091 shares of the company’s stock, valued at approximately $1,226,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in COKE. Biglari Capital CORP. bought a new position in shares of Coca-Cola Consolidated in the 2nd quarter worth approximately $9,752,000. Ascentis Independent Advisors bought a new stake in Coca-Cola Consolidated during the first quarter valued at approximately $31,000. Torren Management LLC purchased a new stake in Coca-Cola Consolidated during the fourth quarter valued at approximately $29,000. Morse Asset Management Inc purchased a new stake in Coca-Cola Consolidated during the fourth quarter valued at approximately $31,000. Finally, Ballast Advisors LLC bought a new position in Coca-Cola Consolidated in the first quarter worth approximately $38,000. Hedge funds and other institutional investors own 48.24% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on COKE. Wall Street Zen cut shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings restated 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 MarketBeat, the stock currently has an average rating of “Buy”.
Coca-Cola Consolidated Trading Up 2.0%
Shares of NASDAQ:COKE opened at $196.53 on Wednesday. The stock has a 50 day moving average of $185.35 and a 200 day moving average of $186.58. The company has a market cap of $13.08 billion, a PE ratio of 26.07 and a beta of 0.55. 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 released its earnings results on Wednesday, August 5th. The company reported $2.83 EPS for the quarter. Coca-Cola Consolidated had a net margin of 7.15% and a negative return on equity of 1,041.59%. The company had revenue of $2.05 billion for the quarter.
Coca-Cola Consolidated Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were given 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 was Friday, July 24th. Coca-Cola Consolidated’s dividend payout ratio (DPR) is presently 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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