MJP Associates Inc. ADV Takes Position in Coca-Cola Consolidated, Inc. $COKE

Key Points

• MJP Associates Inc. ADV bought 14,806 shares of Coca-Cola Consolidated during the second quarter, valued at approximately $1.2 million. Institutional investors collectively own 48.24% of the company.
• COKE shares opened at $187.60, with a market capitalization of $12.49 billion and a price-to-earnings ratio of 24.88. The company reported quarterly revenue of $2.05 billion and earnings of $2.83 per share.
• Coca-Cola Consolidated paid a quarterly dividend of $0.25 per share, equal to an annualized $1.00 dividend and a 0.5% yield. Analyst sentiment remains generally positive, with the stock carrying an average “Buy” rating despite one recent downgrade to “Hold.”

MJP Associates Inc. ADV purchased a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 14,806 shares of the company's stock, valued at approximately $1,203,000.

A number of other institutional investors have also recently bought and sold shares of COKE. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Coca-Cola Consolidated by 8.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,251 shares of the company's stock worth $23,289,000 after acquiring an additional 1,385 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Coca-Cola Consolidated by 1,587.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 270 shares of the company's stock worth $30,000 after purchasing an additional 254 shares during the period. Baird Financial Group Inc. grew its stake in Coca-Cola Consolidated by 795.4% during the second quarter. Baird Financial Group Inc. now owns 9,966 shares of the company's stock worth $1,113,000 after buying an additional 8,853 shares in the last quarter. Marshall Wace LLP increased its holdings in Coca-Cola Consolidated by 5,152.8% in the 2nd quarter. Marshall Wace LLP now owns 18,910 shares of the company's stock valued at $2,111,000 after buying an additional 18,550 shares during the period. Finally, Cresset Asset Management LLC raised its position in shares of Coca-Cola Consolidated by 169.0% in the 2nd quarter. Cresset Asset Management LLC now owns 4,589 shares of the company's stock valued at $512,000 after buying an additional 2,883 shares in the last quarter. Institutional investors own 48.24% of the company's stock.

Coca-Cola Consolidated Trading Up 0.4%

NASDAQ:COKE opened at $187.60 on Friday. Coca-Cola Consolidated, Inc. has a 12 month low of $110.60 and a 12 month high of $219.65. The stock has a market capitalization of $12.49 billion, a price-to-earnings ratio of 24.88 and a beta of 0.55. The firm has a fifty day simple moving average of $184.97 and a two-hundred day simple moving average of $185.75.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $2.05 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a 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 Ratings Changes

A number of analysts have recently commented on COKE shares. Weiss Ratings reissued a "buy (b)" rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. Wall Street Zen cut shares of 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 data from MarketBeat, Coca-Cola Consolidated has an average rating of "Buy".

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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