21,894 Shares in Coca-Cola Consolidated, Inc. $COKE Acquired by Western Wealth Management LLC

Key Points

• Western Wealth Management acquired 21,894 shares of Coca-Cola Consolidated in the second quarter, valued at approximately $1.78 million. Institutional investors 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 stock opened at $196.53, compared with a 52-week range of $110.60 to $219.65.
• The company maintains a quarterly dividend of $0.25, or $1.00 annually, representing a 0.5% yield. Analyst sentiment remains favorable overall, with an average “Buy” rating despite one recent downgrade to “Hold.”

Western Wealth Management LLC purchased a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 21,894 shares of the company's stock, valued at approximately $1,779,000.

A number of other institutional investors have also added to or reduced their stakes in COKE. BlackRock Inc. bought a new stake in shares of Coca-Cola Consolidated during the second quarter valued at approximately $26,229,118,000. Legal & General Group Plc bought a new position in shares of Coca-Cola Consolidated during the second quarter worth $1,978,267,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Coca-Cola Consolidated during the second quarter worth $1,591,427,000. GQG Partners LLC purchased a new position in Coca-Cola Consolidated during the second quarter valued at $1,494,498,000. Finally, Deutsche Bank AG purchased a new position in Coca-Cola Consolidated during the second quarter valued at $1,346,125,000. 48.24% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Stock Performance

NASDAQ COKE opened at $196.53 on Wednesday. The stock has a 50 day moving average price of $185.35 and a 200-day moving average price of $186.58. Coca-Cola Consolidated, Inc. has a one year low of $110.60 and a one year high of $219.65. The company has a market capitalization of $13.08 billion, a P/E ratio of 26.07 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share for the quarter. The company had revenue of $2.05 billion for 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 firm also recently announced 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 dividend on an annualized basis and a dividend yield of 0.5%. Coca-Cola Consolidated's payout ratio is 13.26%.

Wall Street Analyst Weigh In

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source