49 Wealth Management LLC Takes $413,000 Position in Coca-Cola Consolidated, Inc. $COKE

Key Points

• 49 Wealth Management LLC purchased 5,088 shares of Coca-Cola Consolidated during the second quarter, establishing a position valued at approximately $413,000. Institutional investors currently own 48.24% of the company.
• Coca-Cola Consolidated reported quarterly EPS of $2.83 on revenue of $2.05 billion, with a 7.15% net margin. The company also paid a quarterly dividend of $0.25 per share, equivalent to a 0.5% annualized yield.
• COKE shares opened at $198.49, near the upper end of their 52-week range, while analysts maintained an overall “Buy” consensus despite one recent downgrade to “Hold.”

49 Wealth Management LLC bought 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 and Exchange Commission. The institutional investor bought 5,088 shares of the company's stock, valued at approximately $413,000.

Several other institutional investors also recently modified their holdings of COKE. Quarry LP purchased a new stake in Coca-Cola Consolidated in the third quarter worth approximately $25,000. Advisory Services Network LLC purchased a new stake in Coca-Cola Consolidated during the third quarter valued at about $25,000. J.Safra Asset Management Corp purchased a new position in shares of Coca-Cola Consolidated in the second quarter worth about $26,000. Newbridge Financial Services Group Inc. lifted its stake in shares of Coca-Cola Consolidated by 900.0% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company's stock valued at $26,000 after acquiring an additional 207 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in Coca-Cola Consolidated by 900.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 250 shares of the company's stock valued at $28,000 after acquiring an additional 225 shares during the period. 48.24% of the stock is currently owned by institutional investors.

Coca-Cola Consolidated Stock Performance

NASDAQ:COKE opened at $198.49 on Friday. The stock has a 50-day simple moving average of $186.16 and a two-hundred day simple moving average of $187.19. The firm has a market capitalization of $13.21 billion, a PE ratio of 26.32 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 52-week low of $110.60 and a 52-week high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 earnings per share (EPS) for the quarter. The firm 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Investors 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 yield of 0.5%. Coca-Cola Consolidated's payout ratio is presently 13.26%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on COKE. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. Wall Street Zen lowered Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy".

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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