137,768 Shares in Coca-Cola Consolidated, Inc. $COKE Acquired by Perigon Wealth Management LLC

Key Points

• Perigon Wealth Management acquired 137,768 shares of Coca-Cola Consolidated in the second quarter, valued at approximately $11.2 million and representing a 0.21% stake. Institutional investors and hedge funds collectively own 48.24% of the company.
• Coca-Cola Consolidated reported quarterly earnings of $2.83 per share on $2.05 billion in revenue, with a 7.15% net margin. The company also pays a quarterly dividend of $0.25, equivalent to a 0.5% annual yield.
• COKE shares opened at $186.21, down 1.5%, while analyst sentiment remained broadly positive with a consensus “Buy” rating, despite Wall Street Zen downgrading the stock to “Hold.”

Perigon Wealth Management LLC acquired a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 137,768 shares of the company's stock, valued at approximately $11,196,000. Perigon Wealth Management LLC owned 0.21% of Coca-Cola Consolidated as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Bessemer Group Inc. grew its holdings in shares of Coca-Cola Consolidated by 19.1% in the 1st quarter. Bessemer Group Inc. now owns 331 shares of the company's stock valued at $63,000 after buying an additional 53 shares during the period. Beacon Pointe Advisors LLC grew its stake in Coca-Cola Consolidated by 2.6% in the fourth quarter. Beacon Pointe Advisors LLC now owns 2,842 shares of the company's stock valued at $436,000 after acquiring an additional 72 shares during the period. Wealthfront Advisers LLC increased its holdings in shares of Coca-Cola Consolidated by 4.1% in the first quarter. Wealthfront Advisers LLC now owns 1,869 shares of the company's stock worth $358,000 after acquiring an additional 73 shares in the last quarter. UMB Bank n.a. raised its position in shares of Coca-Cola Consolidated by 8.9% during the fourth quarter. UMB Bank n.a. now owns 951 shares of the company's stock worth $146,000 after purchasing an additional 78 shares during the period. Finally, Private Advisor Group LLC lifted its holdings in shares of Coca-Cola Consolidated by 2.2% during the 3rd quarter. Private Advisor Group LLC now owns 4,297 shares of the company's stock valued at $503,000 after purchasing an additional 94 shares in the last quarter. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on COKE. Wall Street Zen cut shares of Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy".

Coca-Cola Consolidated Stock Down 1.5%

Shares of COKE opened at $186.21 on Tuesday. Coca-Cola Consolidated, Inc. has a twelve month low of $110.60 and a twelve month high of $219.65. The stock has a market capitalization of $12.39 billion, a P/E ratio of 24.70 and a beta of 0.55. The company has a 50 day moving average of $184.96 and a 200-day moving average of $184.96.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $2.83 EPS 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were issued 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 dividend payout ratio (DPR) is presently 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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