Coca-Cola Consolidated, Inc. $COKE Shares Purchased by Amundi

Key Points

• Amundi increased its Coca-Cola Consolidated stake by 85.5% in the second quarter, adding 40,941 shares to own 88,813 shares valued at approximately $16.96 million.
• Institutional investors and hedge funds own 48.24% of COKE, while several other firms—including Biglari Capital—also initiated or expanded positions.
• COKE shares opened at $192.61, with a market capitalization of $12.82 billion. The company reported quarterly revenue of $2.05 billion and earnings of $2.83 per share, and pays a $0.25 quarterly dividend yielding about 0.5%.

Amundi increased its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 85.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 88,813 shares of the company's stock after buying an additional 40,941 shares during the period. Amundi owned about 0.13% of Coca-Cola Consolidated worth $16,956,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Biglari Capital CORP. purchased a new stake in shares of Coca-Cola Consolidated in the 2nd quarter worth about $9,752,000. Ascentis Independent Advisors purchased a new stake in shares of Coca-Cola Consolidated in the first quarter valued at about $31,000. Ballast Advisors LLC acquired a new stake in shares of Coca-Cola Consolidated in the first quarter valued at approximately $38,000. Quarry LP acquired a new stake in shares of Coca-Cola Consolidated in the third quarter valued at approximately $25,000. Finally, Advisory Services Network LLC purchased a new position in shares of Coca-Cola Consolidated during the 3rd quarter worth approximately $25,000. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Coca-Cola Consolidated Stock Performance

Shares of COKE opened at $192.61 on Friday. Coca-Cola Consolidated, Inc. has a 1 year low of $110.60 and a 1 year high of $219.65. The company's 50 day simple moving average is $187.03 and its 200 day simple moving average is $189.05. The company has a market capitalization of $12.82 billion, a price-to-earnings ratio of 25.55 and a beta of 0.56.

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 for the quarter. The firm had revenue of $2.05 billion for the quarter. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%.

Coca-Cola Consolidated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were issued a $0.25 dividend. 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 (DPR) is presently 13.26%.

Coca-Cola Consolidated Company Profile

Coca-Cola Consolidated, Inc is the largest Coca-Cola bottler in the United States. Headquartered in Charlotte, North Carolina, the company manufactures, sells, markets and distributes beverages produced under The Coca-Cola Company's brands, as well as a selection of other beverage products.

Its portfolio includes Coca-Cola, Diet Coke, Coca-Cola Zero Sugar, Sprite, Fanta, DASANI, smartwater, Powerade, Minute Maid, Simply, fairlife and Topo Chico, along with other brands and products available in its distribution territories.

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