Elevation Point Wealth Partners LLC Purchases New Stake in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Elevation Point Wealth Partners acquired 321,668 shares of Coca-Cola Consolidated, valued at approximately $26.3 million, representing about 0.48% of the company. Institutional investors collectively own 48.24% of COKE.
• Coca-Cola Consolidated reported quarterly earnings of $2.83 per share on revenue of $2.05 billion. The company also paid a $0.25 quarterly dividend, equivalent to a $1.00 annualized payout and a 0.5% yield.
• COKE opened at $189.10, compared with a 52-week range of $110.60 to $219.65. Despite one analyst downgrade to “hold,” the stock retains a consensus “Buy” rating.

Elevation Point Wealth Partners LLC acquired a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 321,668 shares of the company's stock, valued at approximately $26,291,000. Elevation Point Wealth Partners LLC owned about 0.48% of Coca-Cola Consolidated at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Quarry LP bought a new stake in shares of Coca-Cola Consolidated during the third quarter worth about $25,000. Advisory Services Network LLC bought a new position in Coca-Cola Consolidated in the 3rd quarter valued at about $25,000. J.Safra Asset Management Corp acquired a new position in Coca-Cola Consolidated during the 2nd quarter valued at about $26,000. Newbridge Financial Services Group Inc. boosted its stake in Coca-Cola Consolidated by 900.0% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company's stock valued at $26,000 after purchasing an additional 207 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in Coca-Cola Consolidated by 900.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 250 shares of the company's stock worth $28,000 after purchasing an additional 225 shares in the last quarter. 48.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on COKE shares. Wall Street Zen lowered Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Weiss Ratings restated 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, According to MarketBeat, the company presently has a consensus rating of "Buy".

Coca-Cola Consolidated Stock Performance

NASDAQ:COKE opened at $189.10 on Friday. 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 price of $185.00 and a two-hundred day moving average price of $185.77. The firm has a market cap of $12.59 billion, a price-to-earnings ratio of 25.08 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 earnings per share for the quarter. The firm had revenue of $2.05 billion for 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Shareholders 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 annualized dividend and a yield of 0.5%. Coca-Cola Consolidated's payout ratio is currently 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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