PCM Encore LLC Makes New Investment in Coca-Cola Consolidated, Inc. $COKE

PCM Encore LLC purchased a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKEFree Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 17,138 shares of the company’s stock, valued at approximately $1,393,000.

Several other institutional investors and hedge funds have also recently modified their holdings of COKE. BlackRock Inc. purchased a new position in Coca-Cola Consolidated during the second quarter worth about $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Coca-Cola Consolidated in the 2nd quarter valued at approximately $1,591,427,000. Deutsche Bank AG purchased a new stake in shares of Coca-Cola Consolidated in the 2nd quarter valued at approximately $1,346,125,000. Vanguard Group Inc. increased its holdings in shares of Coca-Cola Consolidated by 6.4% during the 4th quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company’s stock worth $871,673,000 after buying an additional 341,374 shares during the last quarter. Finally, Boston Partners increased its holdings in shares of Coca-Cola Consolidated by 7.8% during the 4th quarter. Boston Partners now owns 2,329,643 shares of the company’s stock worth $357,091,000 after buying an additional 169,555 shares during the last quarter. Institutional investors and hedge funds own 48.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Weiss Ratings reiterated 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 equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy”.

Get Our Latest Analysis on Coca-Cola Consolidated

Coca-Cola Consolidated Price Performance

NASDAQ COKE opened at $187.60 on Friday. The firm’s 50-day moving average is $184.97 and its two-hundred day moving average is $185.75. Coca-Cola Consolidated, Inc. has a 12 month low of $110.60 and a 12 month high of $219.65. The stock has a market capitalization of $12.49 billion, a P/E ratio of 24.88 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKEGet Free Report) last announced its quarterly 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 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 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. The ex-dividend date of this dividend was Friday, July 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is presently 13.26%.

Coca-Cola Consolidated Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Coca-Cola Consolidated (NASDAQ:COKE)

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