7,242 Shares in Coca-Cola Consolidated, Inc. $COKE Bought by Auxano Advisors LLC

Key Points

• Auxano Advisors LLC acquired 7,242 shares of Coca-Cola Consolidated during the second quarter, valued at approximately $589,000. Institutional investors collectively own 48.24% of the company.
• COKE reported quarterly earnings of $2.83 per share on revenue of $2.05 billion. The stock opened at $186.21, compared with a 52-week range of $110.60 to $219.65.
• Analyst sentiment remains positive, with a consensus “Buy” rating, although Wall Street Zen recently downgraded the stock to “Hold.” Coca-Cola Consolidated also maintains a quarterly dividend of $0.25, equivalent to a 0.5% yield.

Auxano Advisors LLC acquired a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,242 shares of the company's stock, valued at approximately $589,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Coca-Cola Consolidated by 6.4% in the fourth quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company's stock worth $871,673,000 after purchasing an additional 341,374 shares during the period. Horizon Investments LLC grew its holdings in shares of Coca-Cola Consolidated by 1,655,666.7% in the 4th quarter. Horizon Investments LLC now owns 49,673 shares of the company's stock valued at $7,602,000 after buying an additional 49,670 shares during the period. Vest Financial LLC grew its holdings in shares of Coca-Cola Consolidated by 60.8% in the 4th quarter. Vest Financial LLC now owns 232,597 shares of the company's stock valued at $35,657,000 after buying an additional 87,912 shares during the period. James Investment Research Inc. increased its position in shares of Coca-Cola Consolidated by 62.2% in the 4th quarter. James Investment Research Inc. now owns 22,412 shares of the company's stock valued at $3,436,000 after buying an additional 8,593 shares in the last quarter. Finally, Walleye Capital LLC increased its position in shares of Coca-Cola Consolidated by 285.2% in the 1st quarter. Walleye Capital LLC now owns 86,972 shares of the company's stock valued at $16,676,000 after buying an additional 64,396 shares in the last quarter. Institutional investors own 48.24% of the company's stock.

Analysts Set New Price Targets

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

Coca-Cola Consolidated Price Performance

COKE opened at $186.21 on Tuesday. The business's 50-day moving average price is $184.96 and its two-hundred day moving average price 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 posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 earnings per share 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. Shareholders of record on Friday, July 24th were paid a $0.25 dividend. The ex-dividend date was Friday, July 24th. This represents a $1.00 annualized dividend and a yield of 0.5%. Coca-Cola Consolidated's payout ratio is presently 13.26%.

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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