Magnolia Capital Advisors LLC Takes $748,000 Position in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Magnolia Capital Advisors acquired 9,202 shares of Coca-Cola Consolidated worth approximately $748,000, while institutional investors collectively own 48.24% of the company.
• Analyst sentiment remains positive, with COKE holding a consensus “Buy” rating despite one firm downgrading the stock to “Hold.”
• Coca-Cola Consolidated reported quarterly revenue of $2.05 billion and EPS of $2.83, while paying a $0.25 quarterly dividend, equivalent to a 0.5% yield.

Magnolia Capital Advisors LLC acquired a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 9,202 shares of the company's stock, valued at approximately $748,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COKE. Biglari Capital CORP. bought a new position in Coca-Cola Consolidated in the second quarter valued at $9,752,000. Ascentis Independent Advisors bought a new stake in Coca-Cola Consolidated during the first quarter worth about $31,000. Torren Management LLC purchased a new position in shares of Coca-Cola Consolidated in the 4th quarter worth about $29,000. Morse Asset Management Inc purchased a new position in shares of Coca-Cola Consolidated in the 4th quarter worth about $31,000. Finally, Ballast Advisors LLC bought a new position in shares of Coca-Cola Consolidated during the 1st quarter valued at about $38,000. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on COKE. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Coca-Cola Consolidated in a research note 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 equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy".

Coca-Cola Consolidated Stock Performance

Shares of COKE stock opened at $194.02 on Thursday. Coca-Cola Consolidated, Inc. has a fifty-two week low of $110.60 and a fifty-two week high of $219.65. The firm has a market cap of $12.91 billion, a P/E ratio of 25.73 and a beta of 0.55. The business's 50 day moving average price is $185.56 and its 200-day moving average price is $186.85.

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. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%.The company had revenue of $2.05 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

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

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.

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