Clearstead Trust LLC Buys Shares of 11,487 Coca-Cola Consolidated, Inc. $COKE

Key Points

• Clearstead Trust LLC acquired 11,487 shares of Coca-Cola Consolidated in the second quarter, worth approximately $934,000. Institutional investors and hedge funds collectively own 48.24% of the company.
• Coca-Cola Consolidated reported quarterly earnings of $2.83 per share on $2.05 billion in revenue, while its stock recently traded at $189.11 and remains within its 52-week range of $110.60 to $219.65.
• The company paid a quarterly dividend of $0.25 per share, equal to a $1.00 annualized dividend and a 0.5% yield. Analysts maintain a consensus “Buy” rating, although one firm recently downgraded the stock to “Hold.”

Clearstead Trust LLC purchased a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 11,487 shares of the company's stock, valued at approximately $934,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of COKE. Quarry LP bought a new stake in shares of Coca-Cola Consolidated in the 3rd quarter valued at $25,000. Advisory Services Network LLC bought a new position in Coca-Cola Consolidated during the third quarter worth $25,000. Newbridge Financial Services Group Inc. raised its stake in Coca-Cola Consolidated by 900.0% during the second quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company's stock worth $26,000 after buying an additional 207 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in Coca-Cola Consolidated by 900.0% in the second quarter. Geneos Wealth Management Inc. now owns 250 shares of the company's stock valued at $28,000 after buying an additional 225 shares during the period. Finally, Torren Management LLC acquired a new position in Coca-Cola Consolidated in the fourth quarter valued at $29,000. Institutional investors and hedge funds own 48.24% of the company's stock.

Coca-Cola Consolidated Stock Down 0.6%

NASDAQ:COKE opened at $189.11 on Friday. The company has a fifty day moving average of $184.81 and a 200-day moving average of $184.46. The firm has a market capitalization of $12.59 billion, a P/E ratio of 25.08 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a twelve month low of $110.60 and a twelve month high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share (EPS) for the quarter. The company 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 business also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were issued a dividend of $0.25 per share. The ex-dividend date 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%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. Wall Street Zen downgraded Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus 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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