Meeder Advisory Services Inc. Buys Shares of 93,938 Coca-Cola Consolidated, Inc. $COKE

Key Points

• Meeder Advisory Services initiated a position of 93,938 Coca-Cola Consolidated shares worth approximately $7.6 million, representing about 0.14% of the company.
• Coca-Cola Consolidated reported quarterly revenue of $2.05 billion and earnings of $2.83 per share; its stock opened at $188.64, with a market capitalization of $12.56 billion.
• The company paid a quarterly dividend of $0.25 per share, or $1.00 annualized, yielding approximately 0.5%. Institutional investors collectively own 48.24% of the stock, while analyst sentiment remains broadly “Buy.”

Meeder Advisory Services Inc. purchased a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 93,938 shares of the company's stock, valued at approximately $7,634,000. Meeder Advisory Services Inc. owned approximately 0.14% of Coca-Cola Consolidated as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of COKE. Quarry LP bought a new position in Coca-Cola Consolidated in the third quarter worth approximately $25,000. Advisory Services Network LLC purchased a new stake in Coca-Cola Consolidated during the third quarter worth $25,000. J.Safra Asset Management Corp bought a new stake in Coca-Cola Consolidated during the 2nd quarter valued at $26,000. Newbridge Financial Services Group Inc. boosted its position in Coca-Cola Consolidated by 900.0% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company's stock valued at $26,000 after acquiring an additional 207 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Coca-Cola Consolidated by 900.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 250 shares of the company's stock valued at $28,000 after acquiring an additional 225 shares during the period. Hedge funds and other institutional investors own 48.24% of the company's stock.

Coca-Cola Consolidated Stock Up 1.3%

NASDAQ:COKE opened at $188.64 on Wednesday. The stock has a market capitalization of $12.56 billion, a price-to-earnings ratio of 25.02 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 52 week low of $110.60 and a 52 week high of $219.65. The firm has a 50 day moving average of $185.03 and a 200 day moving average of $185.23.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last released 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 Dividend Announcement

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

Wall Street Analyst Weigh In

COKE has been the subject of several recent research reports. Weiss Ratings reissued a "buy (b)" rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. Wall Street Zen lowered Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. One investment 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.

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