Phillips Wealth Planners LLC acquired a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE – Free Report) during the second quarter, Holdings Channel.com reports. The firm acquired 14,508 shares of the company’s stock, valued at approximately $1,219,000. Coca-Cola Consolidated makes up approximately 0.9% of Phillips Wealth Planners LLC’s portfolio, making the stock its 24th biggest position.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of Coca-Cola Consolidated during the third quarter valued at about $25,000. Advisory Services Network LLC acquired a new position in shares of Coca-Cola Consolidated in the third quarter worth about $25,000. J.Safra Asset Management Corp purchased a new position in Coca-Cola Consolidated in the second quarter valued at about $26,000. Newbridge Financial Services Group Inc. boosted its holdings in Coca-Cola Consolidated by 900.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company’s stock valued at $26,000 after purchasing an additional 207 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in Coca-Cola Consolidated by 900.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 250 shares of the company’s stock valued at $28,000 after purchasing an additional 225 shares in the last quarter. 48.24% of the stock is owned by hedge funds and other institutional investors.
Coca-Cola Consolidated Trading Down 1.5%
COKE stock opened at $186.21 on Tuesday. The firm has a market cap of $12.39 billion, a P/E ratio of 24.70 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. The stock’s 50 day simple moving average is $184.96 and its 200 day simple moving average is $184.96.
Coca-Cola Consolidated Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis 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%.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on COKE. Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. Wall Street Zen cut Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy”.
View Our Latest Report on COKE
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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