CFO4Life Group LLC Purchases New Holdings in Coca-Cola Consolidated, Inc. $COKE

Key Points

• CFO4Life Group LLC purchased 14,224 shares of Coca-Cola Consolidated in the second quarter, valued at approximately $1.16 million. Several other institutional investors also initiated positions, with institutions collectively owning 48.24% of the stock.
• Coca-Cola Consolidated reported quarterly revenue of $2.05 billion and earnings of $2.83 per share. Shares recently opened at $189.10, with a 52-week range of $110.60 to $219.65.
• The company declared a quarterly dividend of $0.25 per share, equivalent to a $1.00 annualized payout and a 0.5% yield. Analyst sentiment remains generally positive, with the stock carrying an average “Buy” rating despite one recent downgrade to “Hold.”

CFO4Life Group LLC purchased a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 14,224 shares of the company's stock, valued at approximately $1,156,000.

A number of other hedge funds also recently modified their holdings of the company. Quantbot Technologies LP acquired a new position in shares of Coca-Cola Consolidated in the second quarter valued at $1,672,000. Fortress Financial Group LLC bought a new stake in Coca-Cola Consolidated in the 2nd quarter valued at $377,000. Evolve Private Wealth LLC acquired a new position in shares of Coca-Cola Consolidated in the 2nd quarter valued at $358,000. Martin & Co. Inc. TN acquired a new position in shares of Coca-Cola Consolidated in the 2nd quarter valued at $1,575,000. Finally, WealthShield Partners LLC bought a new position in shares of Coca-Cola Consolidated during the 2nd quarter worth about $279,000. Institutional investors own 48.24% of the company's stock.

Coca-Cola Consolidated Stock Performance

Shares of NASDAQ:COKE opened at $189.10 on Friday. The company's fifty day moving average is $185.00 and its 200-day moving average is $185.77. Coca-Cola Consolidated, Inc. has a 52 week low of $110.60 and a 52 week high of $219.65. The company has a market capitalization of $12.59 billion, a PE ratio of 25.08 and a beta of 0.55.

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

Coca-Cola Consolidated Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts recently weighed in on COKE shares. Weiss Ratings reissued a "buy (b)" rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. Wall Street Zen cut 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, the stock presently has an average rating of "Buy".

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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