Ancora Advisors LLC Invests $2.88 Million in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Ancora Advisors acquired 35,376 shares of Coca-Cola Consolidated during the second quarter, worth approximately $2.88 million and representing about 0.05% of the company.
• Several institutional investors also adjusted their positions, and institutional ownership now stands at 48.24% of Coca-Cola Consolidated’s outstanding stock.
• Coca-Cola Consolidated reported quarterly revenue of $2.05 billion and earnings of $2.83 per share, while maintaining a $0.25 quarterly dividend, equivalent to a 0.5% yield. The stock held an average analyst rating of “Buy,” despite one recent downgrade to “Hold.”

Ancora Advisors LLC acquired a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 35,376 shares of the company's stock, valued at approximately $2,875,000. Ancora Advisors LLC owned about 0.05% of Coca-Cola Consolidated as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in 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 acquiring an additional 341,374 shares during the period. Catalyst Investment Management LLC bought a new position in shares of Coca-Cola Consolidated in the 2nd quarter worth $573,000. Horizon Investments LLC lifted its stake in shares of Coca-Cola Consolidated by 1,655,666.7% in the fourth 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 in the last quarter. Argyle Capital Partners LLC acquired a new position in Coca-Cola Consolidated during the 2nd quarter valued at about $479,000. Finally, Van Hulzen Asset Management LLC purchased a new position in shares of Coca-Cola Consolidated during the second quarter valued at approximately $16,491,000. Institutional investors own 48.24% of the company's stock.

Coca-Cola Consolidated Stock Performance

NASDAQ COKE opened at $194.02 on Thursday. The company has a market capitalization of $12.91 billion, a PE ratio of 25.73 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. The company has a 50-day simple moving average of $185.56 and a 200 day simple moving average of $186.85.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last released its earnings results 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 firm had revenue of $2.05 billion for the quarter.

Coca-Cola Consolidated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Investors 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 dividend payout ratio is presently 13.26%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Wall Street Zen downgraded 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 report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently 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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