Alta Advisers Ltd Makes New Investment in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Alta Advisers Ltd. acquired 14,710 shares of Coca-Cola Consolidated in the second quarter, valued at approximately $1.2 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, while its stock opened at $189.10 with a market capitalization of $12.59 billion.
• The company maintains a consensus “Buy” rating, although Wall Street Zen recently downgraded the stock to “Hold.” Coca-Cola Consolidated also pays a quarterly dividend of $0.25 per share, yielding approximately 0.5% annually.

Alta Advisers Ltd bought a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 14,710 shares of the company's stock, valued at approximately $1,195,000.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Coca-Cola Consolidated in the second quarter worth $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Coca-Cola Consolidated in the second quarter valued at approximately $1,591,427,000. GQG Partners LLC purchased a new position in shares of Coca-Cola Consolidated during the 2nd quarter worth approximately $1,494,498,000. Deutsche Bank AG acquired a new position in shares of Coca-Cola Consolidated during the 2nd quarter worth approximately $1,346,125,000. Finally, Vanguard Group Inc. raised its position in shares of Coca-Cola Consolidated by 6.4% during the 4th 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 last quarter. Institutional investors and hedge funds own 48.24% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Wall Street Zen cut Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy".

Coca-Cola Consolidated Trading Up 0.8%

Shares of NASDAQ:COKE opened at $189.10 on Friday. The firm has a market cap of $12.59 billion, a price-to-earnings ratio of 25.08 and a beta of 0.55. The stock's 50-day moving average price is $185.00 and its two-hundred day moving average price is $185.77. Coca-Cola Consolidated, Inc. has a 12-month low of $110.60 and a 12-month 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 for the quarter. Coca-Cola Consolidated had a net margin of 7.15% and a negative return on equity of 1,041.59%. The business had revenue of $2.05 billion for the quarter.

Coca-Cola Consolidated Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 0.5%. Coca-Cola Consolidated's payout ratio is presently 13.26%.

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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