11,040 Shares in Coca-Cola Consolidated, Inc. $COKE Acquired by Pinnacle West Asset Management Inc.

Pinnacle West Asset Management Inc. purchased a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,040 shares of the company's stock, valued at approximately $897,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Coca-Cola Consolidated by 6.4% during the 4th 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 in the last quarter. Catalyst Investment Management LLC acquired a new position in shares of Coca-Cola Consolidated during the second quarter valued at about $573,000. Horizon Investments LLC grew its holdings in shares of Coca-Cola Consolidated by 1,655,666.7% during the fourth quarter. Horizon Investments LLC now owns 49,673 shares of the company's stock valued at $7,602,000 after buying an additional 49,670 shares during the last quarter. Vest Financial LLC increased its position in shares of Coca-Cola Consolidated by 60.8% during the fourth quarter. Vest Financial LLC now owns 232,597 shares of the company's stock worth $35,657,000 after acquiring an additional 87,912 shares in the last quarter. Finally, James Investment Research Inc. increased its position in shares of Coca-Cola Consolidated by 62.2% during the fourth quarter. James Investment Research Inc. now owns 22,412 shares of the company's stock worth $3,436,000 after acquiring an additional 8,593 shares in the last quarter. Institutional investors and hedge funds own 48.24% of the company's stock.

Coca-Cola Consolidated Trading Up 0.8%

Shares of NASDAQ:COKE opened at $189.10 on Friday. The stock has a market cap of $12.59 billion, a PE ratio of 25.08 and a beta of 0.55. The stock's fifty day simple moving average is $185.00 and its two-hundred day simple moving average is $185.77. Coca-Cola Consolidated, Inc. has a 1-year low of $110.60 and a 1-year high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share (EPS) 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 company also recently declared a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were issued a dividend of $0.25 per share. The ex-dividend date 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%.

Wall Street Analysts Forecast Growth

COKE has been the topic of several recent research reports. Wall Street Zen cut shares of Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Weiss Ratings reissued a "buy (b)" rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy".

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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