Callan Family Office LLC Makes New Investment in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Callan Family Office LLC acquired 130,507 shares of Coca-Cola Consolidated, valued at approximately $10.6 million and representing about 0.20% of the company.
• Coca-Cola Consolidated reported quarterly revenue of $2.05 billion and earnings of $2.83 per share. The company also paid a quarterly dividend of $0.25, equal to a 0.5% annualized yield.
• COKE shares opened at $189.10, with a market capitalization of $12.59 billion; institutional investors collectively own 48.24% of the stock, while analysts maintain an average “Buy” rating.

Callan Family Office LLC acquired a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 130,507 shares of the company's stock, valued at approximately $10,606,000. Callan Family Office LLC owned approximately 0.20% of Coca-Cola Consolidated as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in COKE. Ascentis Independent Advisors purchased a new stake in Coca-Cola Consolidated during the first quarter worth approximately $31,000. Torren Management LLC acquired a new position in Coca-Cola Consolidated in the fourth quarter valued at approximately $29,000. Morse Asset Management Inc purchased a new position in Coca-Cola Consolidated in the fourth quarter valued at approximately $31,000. Ballast Advisors LLC purchased a new position in Coca-Cola Consolidated in the first quarter valued at approximately $38,000. Finally, Quarry LP acquired a new stake in Coca-Cola Consolidated during the third quarter worth approximately $25,000. Hedge funds and other institutional investors own 48.24% of the company's stock.

Coca-Cola Consolidated Price Performance

Shares of NASDAQ:COKE opened at $189.10 on Friday. Coca-Cola Consolidated, Inc. has a 1-year low of $110.60 and a 1-year high of $219.65. The stock has a market cap of $12.59 billion, a P/E ratio of 25.08 and a beta of 0.55. The firm has a fifty day moving average price of $185.00 and a 200 day moving average price of $185.77.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 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 Announces Dividend

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a research report 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 investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock 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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