AssuredPartners Investment Advisors LLC Takes Position in Coca-Cola Consolidated, Inc. $COKE

Key Points

• AssuredPartners Investment Advisors initiated a position in Coca-Cola Consolidated, purchasing 8,476 shares valued at approximately $689,000. Institutional investors and hedge funds collectively own 48.24% of the company.
• COKE shares opened at $186.84, down 1.0%, with a market capitalization of $12.44 billion and a 12-month trading range of $110.60 to $219.65.
• Coca-Cola Consolidated reported quarterly revenue of $2.05 billion and earnings of $2.83 per share, while declaring a $0.25 quarterly dividend. Analyst sentiment remains “Buy” overall, despite one recent downgrade to “Hold.”

AssuredPartners Investment Advisors LLC bought a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 8,476 shares of the company's stock, valued at approximately $689,000.

A number of other hedge funds have also made changes to their positions in COKE. Bessemer Group Inc. lifted its holdings in Coca-Cola Consolidated by 19.1% during the 1st quarter. Bessemer Group Inc. now owns 331 shares of the company's stock valued at $63,000 after purchasing an additional 53 shares during the last quarter. Beacon Pointe Advisors LLC grew 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 buying an additional 72 shares during the last quarter. Wealthfront Advisers LLC increased its holdings in shares of 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 buying an additional 73 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Coca-Cola Consolidated by 8.9% during the fourth 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 increased its holdings in shares of Coca-Cola Consolidated by 2.2% during the third 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. Institutional investors and hedge funds own 48.24% of the company's stock.

Coca-Cola Consolidated Stock Down 1.0%

Shares of NASDAQ COKE opened at $186.84 on Thursday. Coca-Cola Consolidated, Inc. has a 12-month low of $110.60 and a 12-month high of $219.65. The firm's 50-day simple moving average is $184.95 and its 200 day simple moving average is $185.50. The company 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 posted 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 firm had revenue of $2.05 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have recently commented on COKE. Weiss Ratings reissued a "buy (b)" rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. Wall Street Zen cut Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. One 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".

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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