Ieq Capital LLC Takes $14.58 Million Position in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Ieq Capital LLC acquired 179,433 shares of Coca-Cola Consolidated in the second quarter, worth approximately $14.58 million and representing 0.27% of the company. Institutional investors and hedge funds collectively own 48.24% of COKE.
• Coca-Cola Consolidated reported quarterly revenue of $2.05 billion and earnings of $2.83 per share, with a 7.15% net margin. The company also paid a quarterly dividend of $0.25 per share, equivalent to a 0.5% annualized yield.
• COKE opened at $189.10, compared with a 52-week range of $110.60 to $219.65. Analyst sentiment remains a consensus “Buy,” although one research firm recently downgraded the stock to “Hold.”

Ieq Capital LLC 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 firm bought 179,433 shares of the company's stock, valued at approximately $14,583,000. Ieq Capital LLC owned 0.27% of Coca-Cola Consolidated as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in COKE. BlackRock Inc. acquired a new position in Coca-Cola Consolidated in the 2nd quarter valued at approximately $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Coca-Cola Consolidated during the 2nd quarter worth approximately $1,591,427,000. Deutsche Bank AG bought a new stake in shares of Coca-Cola Consolidated during the second quarter valued at approximately $1,346,125,000. Vanguard Group Inc. increased its position in shares of Coca-Cola Consolidated by 6.4% during the fourth quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company's stock valued at $871,673,000 after purchasing an additional 341,374 shares during the period. Finally, B. Metzler seel. Sohn & Co. AG acquired a new position in shares of Coca-Cola Consolidated in the second quarter valued at $272,683,000. 48.24% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Consolidated Price Performance

COKE stock opened at $189.10 on Friday. Coca-Cola Consolidated, Inc. has a fifty-two week low of $110.60 and a fifty-two week high of $219.65. The stock has a market capitalization of $12.59 billion, a price-to-earnings ratio of 25.08 and a beta of 0.55. The business has a fifty day moving average price of $185.00 and a 200 day moving average price of $185.77.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share (EPS) for the quarter. Coca-Cola Consolidated had a net margin of 7.15% and a negative return on equity of 1,041.59%. The business had revenue of $2.05 billion for the quarter.

Coca-Cola Consolidated Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Friday, July 24th. Coca-Cola Consolidated's dividend payout ratio is presently 13.26%.

Analysts Set New Price Targets

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

Want to see what other hedge funds are holding COKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report).

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