22,506 Shares in Coca-Cola Consolidated, Inc. $COKE Purchased by Bridgewater Advisors Inc.

Key Points

• Bridgewater Advisors purchased 22,506 shares of Coca-Cola Consolidated during the second quarter, worth approximately $1.96 million. Institutional investors and hedge funds collectively own 48.24% of the company.
• Coca-Cola Consolidated reported quarterly revenue of $2.05 billion and earnings of $2.83 per share. The company also paid a quarterly dividend of $0.25 per share, representing a 0.5% annualized yield.
• COKE shares opened at $189.11, with a market capitalization of $12.59 billion and a 52-week range of $110.60 to $219.65. Analyst sentiment remains “Buy” overall, although Wall Street Zen recently downgraded the stock to “Hold.”

Bridgewater Advisors Inc. purchased a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 22,506 shares of the company's stock, valued at approximately $1,955,000.

Several other institutional investors also recently bought and sold shares of the company. Ascentis Independent Advisors purchased a new stake in Coca-Cola Consolidated during the 1st quarter worth approximately $31,000. Torren Management LLC purchased a new position in shares of Coca-Cola Consolidated in the fourth quarter valued at approximately $29,000. Morse Asset Management Inc acquired a new stake in shares of Coca-Cola Consolidated in the fourth quarter worth approximately $31,000. Ballast Advisors LLC acquired a new stake in shares of Coca-Cola Consolidated in the first quarter worth approximately $38,000. Finally, Quarry LP purchased a new stake in shares of Coca-Cola Consolidated during the third quarter worth approximately $25,000. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Consolidated Price Performance

Shares of Coca-Cola Consolidated stock opened at $189.11 on Friday. The stock has a market cap of $12.59 billion, a P/E ratio of 25.08 and a beta of 0.55. The stock's 50 day simple moving average is $184.81 and its 200-day simple moving average is $184.46. 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 quarterly earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share (EPS) for the quarter. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%.The business had revenue of $2.05 billion during the quarter.

Coca-Cola Consolidated Announces Dividend

The business 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. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date was Friday, July 24th. Coca-Cola Consolidated's dividend payout ratio is presently 13.26%.

Analyst Upgrades and Downgrades

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

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