EFG International AG Acquires New Shares in Coca-Cola Consolidated, Inc. $COKE

Key Points

• EFG International AG acquired 69,490 shares of Coca-Cola Consolidated during the second quarter, valued at approximately $5.65 million and representing about 0.10% of the company.
• Several other institutional investors also initiated positions, while institutional investors and hedge funds collectively own 48.24% of COKE’s stock.
• Coca-Cola Consolidated reported quarterly revenue of $2.05 billion and EPS of $2.83. Its shares opened at $196.53, and the company maintains a quarterly dividend of $0.25 per share, yielding about 0.5% annually.

EFG International AG bought a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 69,490 shares of the company's stock, valued at approximately $5,646,000. EFG International AG owned about 0.10% of Coca-Cola Consolidated as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of COKE. Ancora Advisors LLC bought a new position in shares of Coca-Cola Consolidated in the second quarter worth about $2,875,000. Delos Wealth Advisors LLC bought a new position in Coca-Cola Consolidated in the 2nd quarter valued at approximately $366,000. Primecap Management Co. CA acquired a new stake in Coca-Cola Consolidated in the second quarter valued at approximately $2,861,000. Cooper Haims Advisors LLC acquired a new stake in Coca-Cola Consolidated in the second quarter valued at approximately $475,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Coca-Cola Consolidated during the second quarter worth $682,376,000. Institutional investors and hedge funds own 48.24% of the company's stock.

Analyst Upgrades and Downgrades

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

Coca-Cola Consolidated Price Performance

Coca-Cola Consolidated stock opened at $196.53 on Wednesday. The business has a 50 day moving average of $185.35 and a 200-day moving average of $186.58. The company has a market capitalization of $13.08 billion, a P/E ratio of 26.07 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 1 year low of $110.60 and a 1 year high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $2.83 EPS for the quarter. Coca-Cola Consolidated had a net margin of 7.15% and a negative return on equity of 1,041.59%. The business had revenue of $2.05 billion for the quarter.

Coca-Cola Consolidated Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Friday, July 24th. Coca-Cola Consolidated's 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.

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