Gables Capital Management Inc. Makes New $3.35 Million Investment in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Gables Capital Management acquired 41,261 shares of Coca-Cola Consolidated worth approximately $3.35 million, making COKE about 1.2% of its portfolio. Institutional investors collectively own 48.24% of the company.
• COKE shares recently traded at $188.64, up 1.3%, with a $12.56 billion market capitalization. The company reported quarterly revenue of $2.05 billion and earnings of $2.83 per share.
• Coca-Cola Consolidated paid a quarterly dividend of $0.25 per share, equal to a $1.00 annualized payout and a 0.5% yield. Analyst coverage remains favorable, with the stock holding a consensus “Buy” rating despite one downgrade to “Hold.”

Gables Capital Management Inc. acquired a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 41,261 shares of the company's stock, valued at approximately $3,353,000. Coca-Cola Consolidated comprises about 1.2% of Gables Capital Management Inc.'s portfolio, making the stock its 22nd largest position. Gables Capital Management Inc. owned 0.06% of Coca-Cola Consolidated at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COKE. Quarry LP purchased a new position in shares of Coca-Cola Consolidated during the 3rd quarter worth $25,000. Advisory Services Network LLC acquired a new stake in shares of Coca-Cola Consolidated during the third quarter valued at about $25,000. J.Safra Asset Management Corp acquired a new stake in shares of Coca-Cola Consolidated during the second quarter valued at about $26,000. Newbridge Financial Services Group Inc. raised its stake in shares of Coca-Cola Consolidated by 900.0% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company's stock valued at $26,000 after acquiring an additional 207 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Coca-Cola Consolidated by 900.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 250 shares of the company's stock worth $28,000 after acquiring an additional 225 shares during the last quarter. Institutional investors and hedge funds own 48.24% of the company's stock.

Coca-Cola Consolidated Trading Up 1.3%

Shares of COKE opened at $188.64 on Wednesday. The firm has a market capitalization of $12.56 billion, a price-to-earnings ratio of 25.02 and a beta of 0.55. The firm's fifty day simple moving average is $185.03 and its 200-day simple moving average is $185.23. Coca-Cola Consolidated, Inc. has a twelve month low of $110.60 and a twelve month high of $219.65.

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 (EPS) for the quarter. The firm 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 firm also recently announced a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, July 24th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Coca-Cola Consolidated's dividend payout ratio is 13.26%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Wall Street Zen cut Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Coca-Cola Consolidated presently has a consensus rating of "Buy".

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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