Invst LLC Buys Shares of 16,269 Coca-Cola Consolidated, Inc. $COKE

Key Points

• Invst LLC purchased 16,269 shares of Coca-Cola Consolidated during the second quarter, valued at approximately $1.32 million. Institutional investors collectively own 48.24% of the company.
• COKE shares opened at $196.53, with a 52-week range of $110.60 to $219.65 and a market capitalization of $13.08 billion. The company reported quarterly revenue of $2.05 billion and earnings of $2.83 per share.
• Coca-Cola Consolidated declared a quarterly dividend of $0.25 per share, equivalent to a $1.00 annualized dividend and a 0.5% yield. Analyst sentiment remains generally positive, with the stock carrying an average “Buy” rating.

Invst LLC purchased a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 16,269 shares of the company's stock, valued at approximately $1,322,000.

Several other institutional investors and hedge funds also recently made changes to their positions in COKE. Bessemer Group Inc. raised its stake in 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 acquiring an additional 53 shares during the period. Beacon Pointe Advisors LLC boosted its position in Coca-Cola Consolidated by 2.6% during 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 boosted its position in Coca-Cola Consolidated by 4.1% during 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. increased its stake in shares of 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 increased its stake in shares of 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. Institutional investors own 48.24% of the company's stock.

Coca-Cola Consolidated Stock Performance

NASDAQ:COKE opened at $196.53 on Wednesday. Coca-Cola Consolidated, Inc. has a 52-week low of $110.60 and a 52-week high of $219.65. The firm has a market cap of $13.08 billion, a price-to-earnings ratio of 26.07 and a beta of 0.55. The business's fifty day moving average is $185.35 and its 200 day moving average is $186.58.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 earnings per share (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 Dividend Announcement

The business also recently declared 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. 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 currently 13.26%.

Analysts Set New Price Targets

Several analysts have recently issued reports on COKE shares. Weiss Ratings reissued a "buy (b)" rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. Wall Street Zen downgraded shares of Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Coca-Cola Consolidated presently has an average rating of "Buy".

About Coca-Cola Consolidated

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