Haverford Trust Co Makes New Investment in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Haverford Trust Co. acquired 1,212,623 shares of Coca-Cola Consolidated during the second quarter, valued at approximately $98.55 million and representing a 1.82% stake.
• Institutional investors and hedge funds collectively own 48.24% of COKE. Analyst sentiment remains favorable overall, with an average “Buy” rating despite one recent downgrade to “Hold.”
• COKE recently reported quarterly EPS of $2.83 on $2.05 billion in revenue and paid a quarterly dividend of $0.25, equivalent to a 0.5% annualized yield.

Haverford Trust Co 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 Securities and Exchange Commission (SEC). The fund acquired 1,212,623 shares of the company's stock, valued at approximately $98,550,000. Haverford Trust Co owned 1.82% of Coca-Cola Consolidated as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in COKE. Ascentis Independent Advisors acquired a new stake in shares of Coca-Cola Consolidated during the first quarter worth about $31,000. Torren Management LLC acquired a new position in Coca-Cola Consolidated in the 4th quarter valued at about $29,000. Morse Asset Management Inc acquired a new position in Coca-Cola Consolidated in the 4th quarter valued at about $31,000. Ballast Advisors LLC purchased a new stake in Coca-Cola Consolidated during the 1st quarter valued at approximately $38,000. Finally, Quarry LP purchased a new stake in Coca-Cola Consolidated during the 3rd quarter valued at approximately $25,000. 48.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on COKE. Wall Street Zen downgraded shares of Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a report 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 equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy".

Coca-Cola Consolidated Stock Up 0.8%

Coca-Cola Consolidated stock opened at $189.10 on Friday. The firm has a market capitalization of $12.59 billion, a PE ratio of 25.08 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 52 week low of $110.60 and a 52 week high of $219.65. The firm's 50-day simple moving average is $185.00 and its 200 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 EPS for the quarter. The firm had revenue of $2.05 billion for 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 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 issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Friday, July 24th. Coca-Cola Consolidated's dividend payout ratio is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source