Emerald Investment Advisers LLC Purchases New Stake in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Emerald Investment Advisers LLC acquired 112,442 shares of Coca-Cola Consolidated in the second quarter, valued at approximately $9.14 million and representing a 0.17% stake. Other institutional investors also initiated positions, with institutions and hedge funds owning 48.24% of the company.
• Coca-Cola Consolidated reported quarterly revenue of $2.05 billion and earnings of $2.83 per share. The company’s stock opened at $189.10, with a market capitalization of $12.59 billion.
• Analyst sentiment remains broadly positive, with the stock carrying an average “Buy” rating despite one downgrade to “Hold.” The company also paid a quarterly dividend of $0.25 per share, equivalent to a 0.5% yield.

Emerald Investment Advisers LLC acquired a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 112,442 shares of the company's stock, valued at approximately $9,138,000. Emerald Investment Advisers LLC owned 0.17% of Coca-Cola Consolidated as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in COKE. Westpac Banking Corp acquired a new position in Coca-Cola Consolidated during the 2nd quarter valued at about $3,310,000. Iyo Bank Ltd. bought a new stake in shares of Coca-Cola Consolidated during the second quarter worth approximately $7,021,000. TRB Wealth Management LLC bought a new stake in shares of Coca-Cola Consolidated during the second quarter worth approximately $1,646,000. Sumitomo Life Insurance Co. acquired a new position in Coca-Cola Consolidated in the second quarter valued at approximately $3,643,000. Finally, William Blair Investment Management LLC acquired a new position in Coca-Cola Consolidated in the second quarter valued at approximately $484,000. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on COKE shares. 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 shares of Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy".

Coca-Cola Consolidated Trading Up 0.8%

Coca-Cola Consolidated stock opened at $189.10 on Friday. The firm has a market capitalization of $12.59 billion, a P/E ratio of 25.08 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. The business has a 50-day moving average of $185.00 and a 200-day moving average of $185.77.

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

The company also recently announced a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Friday, July 24th. Coca-Cola Consolidated's dividend payout ratio 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.

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