GSA Capital Partners LLP Invests $1.21 Million in Coca-Cola Consolidated, Inc. $COKE

Key Points

• GSA Capital Partners acquired 14,833 shares of Coca-Cola Consolidated worth approximately $1.21 million in the second quarter. Institutional investors collectively own 48.24% of the company.
• COKE shares opened at $186.21, with a market capitalization of $12.39 billion and a 12-month trading range of $110.60 to $219.65.
• 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, equivalent to a 0.5% yield. Analysts’ average rating remains “Buy,” despite one recent downgrade to “Hold.”

GSA Capital Partners LLP bought a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,833 shares of the company's stock, valued at approximately $1,205,000.

A number of other large investors also recently made changes to their positions in the company. Quarry LP purchased a new position in shares of Coca-Cola Consolidated in the 3rd quarter worth approximately $25,000. Advisory Services Network LLC purchased a new position in Coca-Cola Consolidated in the third quarter worth $25,000. Newbridge Financial Services Group Inc. boosted its position in Coca-Cola Consolidated by 900.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company's stock worth $26,000 after purchasing an additional 207 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in Coca-Cola Consolidated by 900.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 250 shares of the company's stock valued at $28,000 after purchasing an additional 225 shares during the period. Finally, Torren Management LLC bought a new position in Coca-Cola Consolidated in the 4th quarter valued at $29,000. 48.24% of the stock is owned by institutional investors.

Coca-Cola Consolidated Stock Down 1.5%

Shares of COKE stock opened at $186.21 on Tuesday. The firm has a market cap of $12.39 billion, a P/E ratio of 24.70 and a beta of 0.55. The company has a 50 day moving average of $184.96 and a 200-day moving average of $184.96. Coca-Cola Consolidated, Inc. has a 12-month low of $110.60 and a 12-month 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 EPS for the quarter. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%.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. 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 payout ratio is presently 13.26%.

Wall Street Analysts Forecast Growth

COKE has been the topic of a number of recent analyst reports. 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 restated a "buy (b)" rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock 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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