CORDA Investment Management LLC. Makes New Investment in Coca-Cola Consolidated, Inc. $COKE

Key Points

• CORDA Investment Management purchased 409,756 shares of Coca-Cola Consolidated in the second quarter, valued at approximately $33.3 million and representing about 0.62% of the company.
• Several institutional investors increased their COKE holdings, with institutional ownership reaching 48.24% of outstanding shares.
• Coca-Cola Consolidated reported quarterly revenue of $2.05 billion and earnings of $2.83 per share. Analysts maintain a consensus “Buy” rating, while the company pays a quarterly dividend of $0.25, or an annualized yield of approximately 0.5%.

CORDA Investment Management LLC. purchased a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 409,756 shares of the company's stock, valued at approximately $33,301,000. Coca-Cola Consolidated makes up about 2.0% of CORDA Investment Management LLC.'s investment portfolio, making the stock its 23rd biggest position. CORDA Investment Management LLC. owned about 0.62% of Coca-Cola Consolidated as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Coca-Cola Consolidated by 8.7% in 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 purchasing an additional 1,385 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Coca-Cola Consolidated by 1,587.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 270 shares of the company's stock worth $30,000 after buying an additional 254 shares during the last quarter. Baird Financial Group Inc. raised its holdings in Coca-Cola Consolidated by 795.4% during 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 raised its holdings in Coca-Cola Consolidated by 5,152.8% during the second quarter. Marshall Wace LLP now owns 18,910 shares of the company's stock valued at $2,111,000 after buying an additional 18,550 shares in the last quarter. Finally, Cresset Asset Management LLC lifted its position in shares of Coca-Cola Consolidated by 169.0% in the second 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 during the last quarter. Institutional investors own 48.24% of the company's stock.

Analyst Ratings Changes

COKE has been the subject of several recent analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. Wall Street Zen cut Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, Coca-Cola Consolidated currently has a consensus rating of "Buy".

Coca-Cola Consolidated Price Performance

COKE stock opened at $189.11 on Friday. Coca-Cola Consolidated, Inc. has a 52-week low of $110.60 and a 52-week high of $219.65. The company has a 50-day moving average of $184.81 and a two-hundred day moving average of $184.46. The stock has a market capitalization 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 posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 EPS for the quarter. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%.The business had revenue of $2.05 billion for the quarter.

Coca-Cola Consolidated Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were issued 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 dividend payout ratio (DPR) is 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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