Councilmark Asset Management LLC Acquires Shares of 9,302 Coca-Cola Consolidated, Inc. $COKE

Key Points

• Councilmark Asset Management acquired 9,302 shares of Coca-Cola Consolidated during the second quarter, valued at approximately $756,000. Institutional investors collectively own 48.24% of the company.
• Coca-Cola Consolidated shares opened at $196.53, up 2.0%, with a market capitalization of about $13.08 billion. The stock has traded between $110.60 and $219.65 over the past year.
• The company reported quarterly revenue of $2.05 billion and earnings per share of $2.83, while maintaining a consensus analyst rating of “Buy.” It also paid a quarterly dividend of $0.25 per share, equivalent to a 0.5% annual yield.

Councilmark Asset Management LLC acquired a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,302 shares of the company's stock, valued at approximately $756,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Biglari Capital CORP. acquired a new position in Coca-Cola Consolidated in the 2nd quarter valued at about $9,752,000. Ascentis Independent Advisors acquired a new stake in Coca-Cola Consolidated during the first quarter worth approximately $31,000. Torren Management LLC bought a new stake in shares of Coca-Cola Consolidated during the fourth quarter worth approximately $29,000. Morse Asset Management Inc acquired a new position in shares of Coca-Cola Consolidated in the fourth quarter valued at approximately $31,000. Finally, Ballast Advisors LLC acquired a new position in shares of Coca-Cola Consolidated in the first quarter valued at approximately $38,000. Institutional investors own 48.24% of the company's stock.

Wall Street Analyst Weigh In

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

Coca-Cola Consolidated Stock Up 2.0%

Shares of NASDAQ:COKE opened at $196.53 on Wednesday. The company's 50 day moving average price is $185.35 and its two-hundred day moving average price is $186.58. Coca-Cola Consolidated, Inc. has a 12-month low of $110.60 and a 12-month high of $219.65. The firm has a market cap of $13.08 billion, a PE ratio of 26.07 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 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 Dividend Announcement

The business also recently announced 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. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, July 24th. Coca-Cola Consolidated's dividend payout ratio 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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