American Financial & Tax Strategies Inc. Makes New Investment in Coca-Cola Consolidated, Inc. $COKE

Key Points

• American Financial & Tax Strategies acquired 5,865 shares of Coca-Cola Consolidated in the second quarter, valued at approximately $477,000. Institutional investors collectively own 48.24% of the company.
• Analyst sentiment remains positive overall, with Coca-Cola Consolidated holding an average “Buy” rating, although Wall Street Zen recently downgraded the stock to “Hold.”
• COKE shares opened at $188.64, while the company reported quarterly revenue of $2.05 billion and earnings of $2.83 per share. Coca-Cola Consolidated also paid a quarterly dividend of $0.25, equal to a 0.5% annualized yield.

American Financial & Tax Strategies Inc. acquired a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 5,865 shares of the company's stock, valued at approximately $477,000.

Several other institutional investors have also recently made changes to their positions in COKE. Bessemer Group Inc. lifted its position in Coca-Cola Consolidated by 19.1% during the first quarter. Bessemer Group Inc. now owns 331 shares of the company's stock valued at $63,000 after buying an additional 53 shares during the period. Beacon Pointe Advisors LLC boosted its stake in Coca-Cola Consolidated by 2.6% during the fourth quarter. Beacon Pointe Advisors LLC now owns 2,842 shares of the company's stock worth $436,000 after acquiring an additional 72 shares in the last quarter. Wealthfront Advisers LLC boosted its stake in Coca-Cola Consolidated by 4.1% during the first quarter. Wealthfront Advisers LLC now owns 1,869 shares of the company's stock worth $358,000 after acquiring an additional 73 shares in the last quarter. UMB Bank n.a. grew its holdings in Coca-Cola Consolidated by 8.9% in the fourth quarter. UMB Bank n.a. now owns 951 shares of the company's stock worth $146,000 after purchasing an additional 78 shares during the period. Finally, Private Advisor Group LLC grew its holdings in Coca-Cola Consolidated by 2.2% in the third quarter. Private Advisor Group LLC now owns 4,297 shares of the company's stock worth $503,000 after purchasing an additional 94 shares during the period. Institutional investors own 48.24% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on COKE shares. Wall Street Zen lowered shares of 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 research note on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Coca-Cola Consolidated presently has an average rating of "Buy".

Coca-Cola Consolidated Stock Performance

Shares of COKE stock opened at $188.64 on Wednesday. The company has a market capitalization of $12.56 billion, a price-to-earnings ratio of 25.02 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a one year low of $110.60 and a one year high of $219.65. The company's 50-day moving average is $185.03 and its 200 day moving average is $185.23.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share (EPS) for the quarter. The business 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, July 24th. This represents a $1.00 annualized dividend and a yield of 0.5%. Coca-Cola Consolidated's dividend payout ratio is 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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