EP Wealth Advisors LLC Buys New Stake in Coca-Cola Consolidated, Inc. $COKE

Key Points

• EP Wealth Advisors LLC initiated a new Coca-Cola Consolidated stake of 144,275 shares valued at approximately $11.7 million, representing about 0.22% of the company.
• COKE shares opened at $189.10, with a market capitalization of roughly $12.6 billion; institutional investors collectively own 48.24% of the stock.
• Coca-Cola Consolidated reported quarterly revenue of $2.05 billion and earnings per share of $2.83, while maintaining a quarterly dividend of $0.25 per share. Analysts’ overall rating remains “Buy,” despite one recent downgrade to “Hold.”

EP Wealth Advisors LLC purchased a new position in 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 fund purchased 144,275 shares of the company's stock, valued at approximately $11,725,000. EP Wealth Advisors LLC owned about 0.22% of Coca-Cola Consolidated as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of COKE. Quarry LP bought a new position in Coca-Cola Consolidated during the third quarter valued at $25,000. Advisory Services Network LLC bought a new stake in shares of Coca-Cola Consolidated in the 3rd quarter worth about $25,000. J.Safra Asset Management Corp bought a new stake in shares of Coca-Cola Consolidated in the 2nd quarter worth about $26,000. Newbridge Financial Services Group Inc. raised its position in shares of 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 buying an additional 207 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of Coca-Cola Consolidated by 900.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 250 shares of the company's stock valued at $28,000 after buying an additional 225 shares in the last quarter. Hedge funds and other institutional investors own 48.24% of the company's stock.

Coca-Cola Consolidated Stock Up 0.8%

COKE stock opened at $189.10 on Friday. Coca-Cola Consolidated, Inc. has a twelve month low of $110.60 and a twelve month high of $219.65. The stock has a market capitalization of $12.59 billion, a price-to-earnings ratio of 25.08 and a beta of 0.55. The firm's fifty day simple moving average is $185.00 and its two-hundred day simple moving average is $185.77.

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 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 company also recently declared a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date was Friday, July 24th. Coca-Cola Consolidated's dividend payout ratio is presently 13.26%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on COKE. Weiss Ratings reiterated a "buy (b)" rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. Wall Street Zen cut Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Coca-Cola Consolidated currently has an average 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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