MSH Capital Advisors LLC Makes New $6 Million Investment in Coca-Cola Consolidated, Inc. $COKE

Key Points

• MSH Capital Advisors acquired 73,805 shares of Coca-Cola Consolidated worth approximately $6 million, representing about 0.11% of the company and 1% of the firm’s portfolio.
• Several other institutional investors also initiated positions during the second quarter; hedge funds and institutions collectively own 48.24% of COKE shares.
• COKE was trading at $186.84, with a market capitalization of $12.44 billion. Analysts maintain a consensus “Buy” rating, while the company recently reported $2.83 in quarterly EPS and pays a $0.25 quarterly dividend.

MSH Capital Advisors LLC bought a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 73,805 shares of the company's stock, valued at approximately $5,998,000. Coca-Cola Consolidated accounts for 1.0% of MSH Capital Advisors LLC's portfolio, making the stock its 15th largest holding. MSH Capital Advisors LLC owned approximately 0.11% of Coca-Cola Consolidated as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Puzo Michael J bought a new position in Coca-Cola Consolidated during the second quarter valued at approximately $319,000. Live Oak Investment Partners purchased a new stake in Coca-Cola Consolidated during the 2nd quarter valued at $1,062,000. Frazier Financial Advisors LLC bought a new position in shares of Coca-Cola Consolidated during the 2nd quarter valued at $134,000. Bell & Brown Wealth Advisors LLC purchased a new position in shares of Coca-Cola Consolidated in the 2nd quarter worth $3,783,000. Finally, Northcape Wealth Management LLC bought a new stake in shares of Coca-Cola Consolidated in the second quarter worth $3,534,000. 48.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on COKE. Weiss Ratings reissued a "buy (b)" rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. Wall Street Zen lowered shares of Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy".

Coca-Cola Consolidated Stock Down 1.0%

NASDAQ COKE opened at $186.84 on Thursday. Coca-Cola Consolidated, Inc. has a 52 week low of $110.60 and a 52 week high of $219.65. The company has a market capitalization of $12.44 billion, a P/E ratio of 24.78 and a beta of 0.55. The stock's 50-day moving average price is $184.95 and its 200-day moving average price is $185.50.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 earnings per share (EPS) for the quarter. The company had revenue of $2.05 billion during the quarter. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%.

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 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 was Friday, July 24th. Coca-Cola Consolidated's dividend payout ratio is presently 13.26%.

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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