11,528 Shares in Coca-Cola Consolidated, Inc. $COKE Acquired by Archer Investment Corp

Key Points

• Archer Investment Corp. acquired 11,528 shares of Coca-Cola Consolidated valued at approximately $937,000. Institutional investors own 48.24% of the company, with several other funds recently initiating or expanding positions.
• Coca-Cola Consolidated reported quarterly earnings of $2.83 per share on revenue of $2.05 billion, while shares traded near $198.49 within a 52-week range of $110.60 to $219.65.
• Analyst sentiment remains positive, with a consensus “Buy” rating. The company also paid a quarterly dividend of $0.25, equivalent to a $1.00 annualized dividend and a 0.5% yield.

Archer Investment Corp 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 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,528 shares of the company's stock, valued at approximately $937,000.

Several other hedge funds also recently made changes to their positions in the business. Quarry LP acquired a new position in shares of Coca-Cola Consolidated during the third quarter worth $25,000. Advisory Services Network LLC bought a new position in shares of Coca-Cola Consolidated in the 3rd quarter valued at $25,000. Newbridge Financial Services Group Inc. boosted its holdings in shares of Coca-Cola Consolidated by 900.0% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company's stock valued at $26,000 after acquiring an additional 207 shares in the last quarter. J.Safra Asset Management Corp acquired a new stake in shares of Coca-Cola Consolidated during the 2nd quarter valued at $26,000. Finally, Geneos Wealth Management Inc. raised its position in Coca-Cola Consolidated by 900.0% in the second quarter. Geneos Wealth Management Inc. now owns 250 shares of the company's stock valued at $28,000 after purchasing an additional 225 shares during the last quarter. 48.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Weiss Ratings restated a "buy (b)" rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. Wall Street Zen downgraded Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy".

Coca-Cola Consolidated Stock Performance

Shares of COKE opened at $198.49 on Friday. The firm's 50-day simple moving average is $186.16 and its two-hundred day simple moving average is $187.19. Coca-Cola Consolidated, Inc. has a fifty-two week low of $110.60 and a fifty-two week high of $219.65. The stock has a market cap of $13.21 billion, a PE ratio of 26.32 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 earnings per share for the quarter. The company had revenue of $2.05 billion during the quarter. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%.

Coca-Cola Consolidated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were paid a $0.25 dividend. The ex-dividend date was Friday, July 24th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Coca-Cola Consolidated's payout ratio is currently 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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