Family Legacy Inc. Takes Position in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Family Legacy Inc. purchased 80,960 shares of Coca-Cola Consolidated in the second quarter, valued at approximately $6.58 million. The position represents 1.8% of the firm’s portfolio and 0.12% of COKE’s outstanding shares.
• Institutional ownership of Coca-Cola Consolidated stands at 48.24%, with several other investment firms increasing their stakes. Analysts maintain a consensus “Buy” rating, although Wall Street Zen recently downgraded the stock to “Hold.”
• COKE shares opened at $189.11, while the company reported quarterly earnings of $2.83 per share on $2.05 billion in revenue. Coca-Cola Consolidated also paid a quarterly dividend of $0.25, equivalent to a 0.5% annualized yield.

Family Legacy Inc. purchased a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 80,960 shares of the company's stock, valued at approximately $6,580,000. Coca-Cola Consolidated makes up about 1.8% of Family Legacy Inc.'s holdings, making the stock its 14th largest position. Family Legacy Inc. owned 0.12% of Coca-Cola Consolidated at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Bessemer Group Inc. lifted its stake in shares of Coca-Cola Consolidated by 19.1% in the 1st quarter. Bessemer Group Inc. now owns 331 shares of the company's stock valued at $63,000 after purchasing an additional 53 shares during the period. Beacon Pointe Advisors LLC grew its stake in Coca-Cola Consolidated by 2.6% in the fourth quarter. Beacon Pointe Advisors LLC now owns 2,842 shares of the company's stock worth $436,000 after purchasing an additional 72 shares during the period. Wealthfront Advisers LLC grew its stake in Coca-Cola Consolidated by 4.1% in the first quarter. Wealthfront Advisers LLC now owns 1,869 shares of the company's stock worth $358,000 after purchasing an additional 73 shares during the period. UMB Bank n.a. raised its holdings in Coca-Cola Consolidated by 8.9% in the fourth quarter. UMB Bank n.a. now owns 951 shares of the company's stock worth $146,000 after purchasing an additional 78 shares in the last quarter. Finally, Private Advisor Group LLC raised its holdings in Coca-Cola Consolidated by 2.2% in the third quarter. Private Advisor Group LLC now owns 4,297 shares of the company's stock worth $503,000 after purchasing an additional 94 shares in the last quarter. 48.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

COKE has been the topic of a number of research reports. Weiss Ratings restated a "buy (b)" rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. Wall Street Zen lowered shares of 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, the stock has an average rating of "Buy".

Coca-Cola Consolidated Stock Down 0.6%

Shares of COKE opened at $189.11 on Friday. The stock has a market cap of $12.59 billion, a P/E ratio of 25.08 and a beta of 0.55. The business's 50 day moving average price is $184.81 and its 200-day moving average price is $184.46. Coca-Cola Consolidated, Inc. has a 52 week low of $110.60 and a 52 week high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 earnings per share for the quarter. The company had revenue of $2.05 billion during 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 business also recently announced a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, July 24th. Coca-Cola Consolidated's dividend 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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