Corient Private Wealth LP Acquires New Holdings in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Corient Private Wealth LP acquired 3.07 million shares of Coca-Cola Consolidated in the second quarter, valued at approximately $245.7 million and representing about 4.61% of the company. Institutional investors collectively own 48.24% of COKE.
• Coca-Cola Consolidated reported quarterly EPS of $2.83 on revenue of $2.05 billion. The stock recently opened at $194.02, with a 52-week range of $110.60 to $219.65.
• Analyst sentiment remains broadly positive, with an average “Buy” rating despite one recent downgrade to “Hold.” The company also paid a quarterly dividend of $0.25 per share, equal to a 0.5% annualized yield.

Corient Private Wealth LP acquired a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,071,817 shares of the company's stock, valued at approximately $245,665,000. Corient Private Wealth LP owned approximately 4.61% of Coca-Cola Consolidated as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of COKE. Quarry LP purchased a new stake in shares of Coca-Cola Consolidated during the 3rd quarter worth $25,000. Advisory Services Network LLC purchased a new position in Coca-Cola Consolidated in the third quarter valued at about $25,000. J.Safra Asset Management Corp bought a new position in Coca-Cola Consolidated in the second quarter worth about $26,000. Newbridge Financial Services Group Inc. lifted its position in shares of Coca-Cola Consolidated by 900.0% during the second quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company's stock valued at $26,000 after buying an additional 207 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Coca-Cola Consolidated by 900.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 250 shares of the company's stock valued at $28,000 after buying an additional 225 shares in the last quarter. Hedge funds and other institutional investors own 48.24% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports 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 reissued 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 MarketBeat.com, the stock has an average rating of "Buy".

Coca-Cola Consolidated Price Performance

Shares of COKE stock opened at $194.02 on Thursday. The stock's fifty day moving average price is $185.56 and its 200 day moving average price is $186.85. Coca-Cola Consolidated, Inc. has a 1-year low of $110.60 and a 1-year high of $219.65. The company has a market cap of $12.91 billion, a price-to-earnings ratio of 25.73 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 EPS for the quarter. The company had revenue of $2.05 billion during 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 Dividend Announcement

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 13.26%.

Coca-Cola Consolidated Company 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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