Live Oak Investment Partners Buys Shares of 13,071 Coca-Cola Consolidated, Inc. $COKE

Key Points

• Live Oak Investment Partners acquired 13,071 shares of Coca-Cola Consolidated during the second quarter, valued at approximately $1.06 million. Institutional investors collectively own 48.24% of the company, with State Street increasing its position by 836.9%.
• Coca-Cola Consolidated reported quarterly revenue of $2.05 billion and earnings of $2.83 per share, with a 7.15% net margin. The stock opened at $186.84, with a market capitalization of $12.44 billion.
• The company declared a quarterly dividend of $0.25 per share, equal to a $1.00 annualized payout and a 0.5% yield. Analysts maintain a consensus “Buy” rating, although one brokerage recently downgraded the stock to “Hold.”

Live Oak Investment Partners purchased a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 13,071 shares of the company's stock, valued at approximately $1,062,000.

A number of other large investors also recently modified their holdings of COKE. BlackRock Inc. purchased a new position in Coca-Cola Consolidated during the second quarter valued at approximately $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Coca-Cola Consolidated in the 2nd quarter valued at $1,591,427,000. Deutsche Bank AG purchased a new position in shares of Coca-Cola Consolidated during the 2nd quarter valued at $1,346,125,000. Commerzbank Aktiengesellschaft FI bought a new position in shares of Coca-Cola Consolidated in the second quarter worth $147,857,000. Finally, State Street Corp raised its position in shares of Coca-Cola Consolidated by 836.9% in the second quarter. State Street Corp now owns 1,729,065 shares of the company's stock worth $193,050,000 after buying an additional 1,544,516 shares in the last quarter. 48.24% of the stock is currently owned by institutional investors.

Coca-Cola Consolidated Stock Performance

Coca-Cola Consolidated stock opened at $186.84 on Thursday. The firm's fifty day moving average price is $184.95 and its 200-day moving average price is $185.50. The stock has a market cap of $12.44 billion, a P/E ratio of 24.78 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a fifty-two week low of $110.60 and a fifty-two week 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 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 company had revenue of $2.05 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on COKE. Weiss Ratings restated a "buy (b)" rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. Wall Street Zen lowered 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, the stock presently has a consensus 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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