Edmond DE Rothschild Holding S.A. Buys Shares of 414,137 Coca-Cola Consolidated, Inc. $COKE

Key Points

• Edmond de Rothschild Holding acquired 414,137 shares of Coca-Cola Consolidated worth approximately $33.7 million, representing about 0.62% of the company.
• Several other institutional investors increased their COKE holdings in the second quarter; institutions and hedge funds collectively own 48.24% of the stock.
• Coca-Cola Consolidated reported quarterly EPS of $2.83 on $2.05 billion in revenue and declared a $0.25 quarterly dividend, equal to a 0.5% yield. The stock opened at $186.84, while analysts maintained a consensus “Buy” rating.

Edmond DE Rothschild Holding S.A. bought a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 414,137 shares of the company's stock, valued at approximately $33,657,000. Edmond DE Rothschild Holding S.A. owned approximately 0.62% of Coca-Cola Consolidated at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in COKE. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Coca-Cola Consolidated by 8.7% during the 1st 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. lifted its stake in Coca-Cola Consolidated by 1,587.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 270 shares of the company's stock valued at $30,000 after purchasing an additional 254 shares during the last quarter. Baird Financial Group Inc. boosted its position in Coca-Cola Consolidated by 795.4% in 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 boosted its position in Coca-Cola Consolidated by 5,152.8% in 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 grew its stake in shares of Coca-Cola Consolidated by 169.0% during 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. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Consolidated Trading Down 1.0%

NASDAQ COKE opened at $186.84 on Thursday. The firm has a market capitalization of $12.44 billion, a PE ratio of 24.78 and a beta of 0.55. The business's 50-day moving average price is $184.95 and its two-hundred day moving average price is $185.50. Coca-Cola Consolidated, Inc. has a 12 month low of $110.60 and a 12 month high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 earnings per share (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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 7th. Shareholders 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 yield of 0.5%. Coca-Cola Consolidated's dividend payout ratio (DPR) is presently 13.26%.

Analysts Set New Price Targets

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

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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