Keating Financial Advisory Services Inc. Purchases New Holdings in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Keating Financial Advisory Services purchased 7,239 shares of Coca-Cola Consolidated in the second quarter, valued at approximately $588,000.
• Other institutions also increased or initiated positions, with institutional investors collectively owning 48.24% of COKE shares.
• COKE recently traded at $189.10, while the company reported quarterly revenue of $2.05 billion and EPS of $2.83; it also maintains a quarterly dividend of $0.25 per share.

Keating Financial Advisory Services Inc. bought a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 7,239 shares of the company's stock, valued at approximately $588,000.

A number of other hedge funds also recently made changes to their positions in COKE. Vanguard Group Inc. grew its position in Coca-Cola Consolidated by 6.4% in the fourth quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company's stock worth $871,673,000 after acquiring an additional 341,374 shares in the last quarter. Catalyst Investment Management LLC purchased a new stake in Coca-Cola Consolidated during the second quarter valued at about $573,000. Horizon Investments LLC raised its position in Coca-Cola Consolidated by 1,655,666.7% during the fourth quarter. Horizon Investments LLC now owns 49,673 shares of the company's stock valued at $7,602,000 after purchasing an additional 49,670 shares in the last quarter. Vest Financial LLC lifted its stake in Coca-Cola Consolidated by 60.8% during the fourth quarter. Vest Financial LLC now owns 232,597 shares of the company's stock worth $35,657,000 after purchasing an additional 87,912 shares during the last quarter. Finally, James Investment Research Inc. lifted its stake in Coca-Cola Consolidated by 62.2% during the fourth quarter. James Investment Research Inc. now owns 22,412 shares of the company's stock worth $3,436,000 after purchasing an additional 8,593 shares during the last quarter. 48.24% of the stock is currently owned by institutional investors.

Coca-Cola Consolidated Price Performance

Shares of NASDAQ:COKE opened at $189.10 on Friday. Coca-Cola Consolidated, Inc. has a 1 year low of $110.60 and a 1 year high of $219.65. The company has a market cap of $12.59 billion, a PE ratio of 25.08 and a beta of 0.55. The stock's 50-day moving average is $185.00 and its 200 day moving average is $185.77.

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on COKE. Weiss Ratings reiterated 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 investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Coca-Cola Consolidated presently has an average 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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