Beckerman Institutional LLC Buys Shares of 6,243 Coca-Cola Consolidated, Inc. $COKE

Key Points

• Beckerman Institutional LLC initiated a position in Coca-Cola Consolidated by purchasing 6,243 shares valued at approximately $507,000. Institutional investors collectively own 48.24% of the company.
• Analyst sentiment remains broadly positive, with Coca-Cola Consolidated holding an average “Buy” rating, although Wall Street Zen recently downgraded the stock to “Hold.”
• COKE reported quarterly earnings of $2.83 per share on $2.05 billion in revenue and pays a quarterly dividend of $0.25, equivalent to a 0.5% annual yield.

Beckerman Institutional LLC bought a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,243 shares of the company's stock, valued at approximately $507,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Coca-Cola Consolidated by 8.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,251 shares of the company's stock worth $23,289,000 after buying an additional 1,385 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Coca-Cola Consolidated by 1,587.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 270 shares of the company's stock worth $30,000 after purchasing an additional 254 shares during the period. Baird Financial Group Inc. grew its stake in shares of Coca-Cola Consolidated by 795.4% in the second quarter. Baird Financial Group Inc. now owns 9,966 shares of the company's stock valued at $1,113,000 after buying an additional 8,853 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Coca-Cola Consolidated by 5,152.8% during the second quarter. Marshall Wace LLP now owns 18,910 shares of the company's stock worth $2,111,000 after purchasing an additional 18,550 shares in the last quarter. Finally, Cresset Asset Management LLC lifted its holdings in Coca-Cola Consolidated by 169.0% in the 2nd quarter. Cresset Asset Management LLC now owns 4,589 shares of the company's stock worth $512,000 after buying an additional 2,883 shares in the last quarter. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on COKE. Wall Street Zen downgraded Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Coca-Cola Consolidated has an average rating of "Buy".

Coca-Cola Consolidated Price Performance

Shares of Coca-Cola Consolidated stock opened at $189.10 on Friday. Coca-Cola Consolidated, Inc. has a 52-week low of $110.60 and a 52-week high of $219.65. The stock has a 50-day simple moving average of $185.00 and a 200-day simple moving average of $185.77. The firm has a market cap of $12.59 billion, a price-to-earnings ratio of 25.08 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. The business had revenue of $2.05 billion for 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 Announces Dividend

The firm also recently announced 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 of this dividend was Friday, July 24th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. Coca-Cola Consolidated's payout ratio is presently 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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