Fairtree Asset Management Pty Ltd Invests $1.35 Million in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Fairtree Asset Management acquired 16,571 shares of Coca-Cola Consolidated valued at approximately $1.35 million during the second quarter. Institutional investors collectively own 48.24% of the company.
• Coca-Cola Consolidated reported quarterly earnings of $2.83 per share on revenue of $2.05 billion, with a 7.15% net margin. The company also maintains a $0.25 quarterly dividend, equivalent to a 0.5% yield.
• COKE shares opened at $187.60, compared with a 52-week range of $110.60 to $219.65. Analyst sentiment remains favorable, with a consensus “Buy” rating despite one recent downgrade to “Hold.”

Fairtree Asset Management Pty Ltd acquired a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 16,571 shares of the company's stock, valued at approximately $1,347,000.

Several other institutional investors have also added to or reduced their stakes in COKE. BlackRock Inc. bought a new position in Coca-Cola Consolidated during the second quarter worth about $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Coca-Cola Consolidated in the second quarter valued at approximately $1,591,427,000. Deutsche Bank AG purchased a new stake in shares of Coca-Cola Consolidated during the 2nd quarter valued at approximately $1,346,125,000. Commerzbank Aktiengesellschaft FI purchased a new stake in shares of Coca-Cola Consolidated during the 2nd quarter valued at approximately $147,857,000. Finally, State Street Corp raised its holdings in Coca-Cola Consolidated by 836.9% during the 2nd quarter. State Street Corp now owns 1,729,065 shares of the company's stock valued at $193,050,000 after acquiring an additional 1,544,516 shares during the period. 48.24% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Price Performance

Shares of Coca-Cola Consolidated stock opened at $187.60 on Friday. Coca-Cola Consolidated, Inc. has a 1 year low of $110.60 and a 1 year high of $219.65. The firm has a market cap of $12.49 billion, a PE ratio of 24.88 and a beta of 0.55. The company has a 50 day simple moving average of $184.97 and a two-hundred day simple moving average of $185.75.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 EPS for the quarter. The firm 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were given a $0.25 dividend. 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 payout ratio is 13.26%.

Analyst Upgrades and Downgrades

COKE has been the subject of several recent research reports. 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 report on Saturday, August 8th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy".

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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