Asahi Life Asset Management CO. LTD. Acquires New Holdings in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Asahi Life Asset Management acquired 14,302 shares of Coca-Cola Consolidated worth approximately $1.16 million during the second quarter. 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 analysts maintain an average “Buy” rating despite one firm downgrading the stock to “Hold.”
• COKE shares opened at $186.84, down 1.0%, with a market capitalization of $12.44 billion. The company recently paid a quarterly dividend of $0.25 per share, equivalent to a 0.5% annualized yield.

Asahi Life Asset Management CO. LTD. purchased a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 14,302 shares of the company's stock, valued at approximately $1,162,000.

Several other hedge funds and other institutional investors have also made changes to their positions in COKE. Bessemer Group Inc. grew its stake in shares of Coca-Cola Consolidated by 19.1% in the first quarter. Bessemer Group Inc. now owns 331 shares of the company's stock worth $63,000 after purchasing an additional 53 shares in the last quarter. Beacon Pointe Advisors LLC increased its stake in Coca-Cola Consolidated by 2.6% during the 4th quarter. Beacon Pointe Advisors LLC now owns 2,842 shares of the company's stock valued at $436,000 after buying an additional 72 shares during the period. Wealthfront Advisers LLC increased its stake in Coca-Cola Consolidated by 4.1% during the 1st quarter. Wealthfront Advisers LLC now owns 1,869 shares of the company's stock valued at $358,000 after buying an additional 73 shares during the period. UMB Bank n.a. raised its position in shares of Coca-Cola Consolidated by 8.9% during the 4th quarter. UMB Bank n.a. now owns 951 shares of the company's stock worth $146,000 after buying an additional 78 shares in the last quarter. Finally, Private Advisor Group LLC raised its position in shares of Coca-Cola Consolidated by 2.2% during the 3rd quarter. Private Advisor Group LLC now owns 4,297 shares of the company's stock worth $503,000 after buying an additional 94 shares in the last quarter. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

COKE has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Coca-Cola Consolidated in a research note 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, Coca-Cola Consolidated currently has an average rating of "Buy".

Coca-Cola Consolidated Trading Down 1.0%

NASDAQ:COKE opened at $186.84 on Thursday. Coca-Cola Consolidated, Inc. has a twelve month low of $110.60 and a twelve month high of $219.65. The company has a 50-day moving average of $184.95 and a 200-day moving average of $185.50. The firm has a market cap of $12.44 billion, a price-to-earnings ratio of 24.78 and a beta of 0.55.

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 (EPS) for the quarter. Coca-Cola Consolidated had a net margin of 7.15% and a negative return on equity of 1,041.59%. The company had revenue of $2.05 billion for the quarter.

Coca-Cola Consolidated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, July 24th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Coca-Cola Consolidated's dividend payout ratio is currently 13.26%.

Coca-Cola Consolidated 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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