5,895 Shares in Coca-Cola Consolidated, Inc. $COKE Bought by Argyle Capital Partners LLC

Key Points

• Argyle Capital Partners bought 5,895 shares of Coca-Cola Consolidated during the second quarter, a stake valued at approximately $479,000. Institutional investors collectively own 48.24% of the company.
• Coca-Cola Consolidated reported quarterly revenue of $2.05 billion and earnings of $2.83 per share. Its stock opened at $186.21, with a market capitalization of $12.39 billion.
• The company paid a quarterly dividend of $0.25 per share, equal to an annualized $1.00 and a 0.5% yield. Analysts maintain a consensus “Buy” rating, although one research firm recently downgraded the stock to “Hold.”

Argyle Capital Partners LLC purchased a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 5,895 shares of the company's stock, valued at approximately $479,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COKE. BlackRock Inc. purchased a new stake in shares of Coca-Cola Consolidated during the second quarter worth about $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Coca-Cola Consolidated during the second quarter valued at $1,591,427,000. Deutsche Bank AG acquired a new position in shares of Coca-Cola Consolidated in the 2nd quarter valued at about $1,346,125,000. Commerzbank Aktiengesellschaft FI acquired a new position in Coca-Cola Consolidated in the second quarter valued at approximately $147,857,000. Finally, State Street Corp boosted its holdings in Coca-Cola Consolidated by 836.9% during the second quarter. State Street Corp now owns 1,729,065 shares of the company's stock worth $193,050,000 after buying an additional 1,544,516 shares in the last quarter. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Stock Performance

Coca-Cola Consolidated stock opened at $186.21 on Tuesday. The company's 50 day simple moving average is $184.96 and its 200-day simple moving average is $184.96. Coca-Cola Consolidated, Inc. has a 1 year low of $110.60 and a 1 year high of $219.65. The company has a market capitalization of $12.39 billion, a price-to-earnings ratio of 24.70 and a beta of 0.55.

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

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were given a dividend of $0.25 per share. The ex-dividend date of this dividend 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 dividend payout ratio is currently 13.26%.

Wall Street Analysts Forecast Growth

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