Diversify Advisory Services LLC Takes $13.84 Million Position in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Diversify Advisory Services LLC acquired 164,600 shares of Coca-Cola Consolidated worth approximately $13.84 million, representing a 0.25% stake. Institutional investors collectively own 48.24% of the company.
• Coca-Cola Consolidated received a consensus “Buy” rating, although Wall Street Zen recently downgraded the stock to “Hold.” Shares opened at $188.64, with a 52-week range of $110.60 to $219.65.
• The company reported quarterly revenue of $2.05 billion and earnings per share of $2.83, and paid a quarterly dividend of $0.25, equivalent to a $1.00 annualized dividend and a 0.5% yield.

Diversify Advisory Services LLC purchased a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 164,600 shares of the company's stock, valued at approximately $13,838,000. Diversify Advisory Services LLC owned 0.25% 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 recently modified their holdings of COKE. BlackRock Inc. purchased a new position in Coca-Cola Consolidated during the second quarter valued at approximately $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Coca-Cola Consolidated during the second quarter worth $1,591,427,000. Deutsche Bank AG bought a new stake in Coca-Cola Consolidated during the 2nd quarter valued at $1,346,125,000. Commerzbank Aktiengesellschaft FI bought a new stake in Coca-Cola Consolidated during the 2nd quarter valued at $147,857,000. Finally, State Street Corp increased its holdings in shares of Coca-Cola Consolidated by 836.9% in the 2nd quarter. State Street Corp now owns 1,729,065 shares of the company's stock valued at $193,050,000 after acquiring an additional 1,544,516 shares during the period. 48.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on COKE shares. Wall Street Zen lowered Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Weiss Ratings reiterated a "buy (b)" rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Coca-Cola Consolidated presently has a consensus rating of "Buy".

Coca-Cola Consolidated Stock Up 1.3%

NASDAQ:COKE opened at $188.64 on Wednesday. The stock has a market capitalization of $12.56 billion, a price-to-earnings ratio of 25.02 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 52 week low of $110.60 and a 52 week high of $219.65. The firm has a 50 day moving average of $185.03 and a 200 day moving average of $185.23.

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 (EPS) 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were given 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 dividend yield of 0.5%. Coca-Cola Consolidated's dividend payout ratio (DPR) is presently 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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source