Dearborn Partners LLC Makes New $3.69 Million Investment in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Dearborn Partners acquired 48,518 shares of Coca-Cola Consolidated valued at approximately $3.69 million, representing about 0.07% of the company. Institutional investors collectively own 48.24% of COKE.
• Coca-Cola Consolidated reported quarterly earnings of $2.83 per share on $2.05 billion in revenue, while maintaining a $0.25 quarterly dividend, or $1.00 annually.
• COKE shares opened at $194.60, with a $12.95 billion market capitalization; analysts maintain an overall “Buy” rating, although one rating was recently downgraded to “Hold.”

Dearborn Partners LLC acquired a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 48,518 shares of the company's stock, valued at approximately $3,690,000. Dearborn Partners LLC owned about 0.07% of Coca-Cola Consolidated as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in COKE. Biglari Capital CORP. bought a new stake in Coca-Cola Consolidated during the 2nd quarter valued at $9,752,000. Ascentis Independent Advisors purchased a new stake in Coca-Cola Consolidated during the 1st quarter valued at $31,000. Torren Management LLC bought a new stake in Coca-Cola Consolidated in the 4th quarter worth $29,000. Morse Asset Management Inc bought a new stake in Coca-Cola Consolidated in the 4th quarter worth $31,000. Finally, Ballast Advisors LLC purchased a new position in shares of Coca-Cola Consolidated in the first quarter valued at about $38,000. Hedge funds and other institutional investors own 48.24% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on COKE. Weiss Ratings reaffirmed 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 note on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Coca-Cola Consolidated currently has an average rating of "Buy".

Coca-Cola Consolidated Stock Up 0.3%

Shares of Coca-Cola Consolidated stock opened at $194.60 on Friday. The company has a market cap of $12.95 billion, a PE ratio of 25.81 and a beta of 0.55. The business has a 50 day moving average of $185.82 and a 200 day moving average of $187.11. Coca-Cola Consolidated, Inc. has a 52 week low of $110.60 and a 52 week high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share for the quarter. The business 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 given a $0.25 dividend. 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 (DPR) is currently 13.26%.

About Coca-Cola Consolidated

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.

Want to see what other hedge funds are holding COKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.