13,200 Shares in Coca-Cola Consolidated, Inc. $COKE Acquired by Encore Global Management LP

Key Points

• Encore Global Management LP acquired 13,200 shares of Coca-Cola Consolidated during the second quarter, valued at approximately $1.07 million. Institutional investors and hedge funds collectively own 48.24% of the company.
• Analyst sentiment remains generally positive, with Coca-Cola Consolidated carrying a consensus “Buy” rating despite one recent downgrade to “Hold.”
• COKE shares opened at $189.10, while the company recently reported quarterly revenue of $2.05 billion and earnings of $2.83 per share; its quarterly dividend is $0.25, equivalent to a 0.5% annual yield.

Encore Global Management LP acquired 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 disclosure with the Securities & Exchange Commission. The institutional investor acquired 13,200 shares of the company's stock, valued at approximately $1,073,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Coca-Cola Consolidated by 6.4% in the fourth quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company's stock valued at $871,673,000 after buying an additional 341,374 shares in the last quarter. Catalyst Investment Management LLC purchased a new stake in Coca-Cola Consolidated during the 2nd quarter worth about $573,000. Horizon Investments LLC boosted its position in shares of Coca-Cola Consolidated by 1,655,666.7% during the 4th quarter. Horizon Investments LLC now owns 49,673 shares of the company's stock worth $7,602,000 after acquiring an additional 49,670 shares in the last quarter. Vest Financial LLC boosted its position in shares of Coca-Cola Consolidated by 60.8% during the 4th 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 holdings in shares of Coca-Cola Consolidated by 62.2% in the 4th quarter. James Investment Research Inc. now owns 22,412 shares of the company's stock valued at $3,436,000 after acquiring an additional 8,593 shares during the last quarter. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

COKE has been the topic of several research analyst reports. Weiss Ratings reissued a "buy (b)" rating on shares of Coca-Cola Consolidated in a research 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 analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy".

Coca-Cola Consolidated Stock Up 0.8%

Shares of NASDAQ:COKE opened at $189.10 on Friday. Coca-Cola Consolidated, Inc. has a fifty-two week low of $110.60 and a fifty-two week high of $219.65. The firm's 50-day simple moving average is $185.00 and its 200-day simple moving average is $185.77. The company has a market cap of $12.59 billion, a price-to-earnings ratio of 25.08 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share for the quarter. The firm had revenue of $2.05 billion for 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 company also recently announced a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, July 24th. This represents a $1.00 annualized dividend and a yield of 0.5%. Coca-Cola Consolidated's dividend payout ratio is 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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