308,044 Shares in Coca-Cola Consolidated, Inc. $COKE Acquired by SCS Capital Management LLC

Key Points

• SCS Capital Management LLC acquired 308,044 shares of Coca-Cola Consolidated in the second quarter, worth approximately $25.2 million and representing a 0.46% stake.
• Institutional ownership accounts for 48.24% of COKE shares, with several other investment firms also initiating or increasing positions.
• Coca-Cola Consolidated reported quarterly EPS of $2.83 on $2.05 billion in revenue and paid a quarterly dividend of $0.25 per share; analysts maintain a consensus “Buy” rating despite one recent downgrade to “Hold.”

SCS Capital Management LLC bought a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 308,044 shares of the company's stock, valued at approximately $25,210,000. SCS Capital Management LLC owned 0.46% of Coca-Cola Consolidated as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of COKE. Quarry LP purchased a new position in shares of Coca-Cola Consolidated during the 3rd quarter worth $25,000. Advisory Services Network LLC acquired a new stake in shares of Coca-Cola Consolidated during the third quarter worth $25,000. Newbridge Financial Services Group Inc. grew its position in shares of Coca-Cola Consolidated by 900.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company's stock valued at $26,000 after purchasing an additional 207 shares during the period. Geneos Wealth Management Inc. grew its position in shares of 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 period. Finally, Torren Management LLC acquired a new position in Coca-Cola Consolidated in the fourth quarter valued at $29,000. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Consolidated Trading Down 0.6%

Shares of Coca-Cola Consolidated stock opened at $189.11 on Friday. The business's fifty day moving average price is $184.81 and its 200 day moving average price is $184.46. 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 $12.59 billion, a P/E ratio of 25.08 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 EPS 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 company also recently announced a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were issued a dividend of $0.25 per share. 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 presently 13.26%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. Wall Street Zen cut Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. One 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 Company 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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