NewEdge Advisors LLC Has $2.81 Million Stock Position in Coca-Cola Consolidated, Inc. $COKE

Key Points

• NewEdge Advisors increased its Coca-Cola Consolidated stake by 77.1% in the second quarter, adding 6,398 shares for a total of 14,699 shares valued at approximately $2.81 million.
• Institutional investors and hedge funds own 48.24% of COKE, while analyst sentiment remains positive overall with an average “Buy” rating despite one recent downgrade to “Hold.”
• COKE shares opened at $198.67, with the company reporting quarterly EPS of $2.83 on $2.05 billion in revenue and maintaining a quarterly dividend of $0.25, equivalent to a 0.5% yield.

NewEdge Advisors LLC grew its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 77.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,699 shares of the company's stock after buying an additional 6,398 shares during the quarter. NewEdge Advisors LLC's holdings in Coca-Cola Consolidated were worth $2,806,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of COKE. BlackRock Inc. acquired a new stake in shares of Coca-Cola Consolidated during the 2nd quarter valued at $26,229,118,000. Biglari Sardar bought a new stake in Coca-Cola Consolidated during the 2nd quarter worth $8,959,855,000. Legal & General Group Plc bought a new stake in Coca-Cola Consolidated during the 2nd quarter worth $1,978,267,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Coca-Cola Consolidated in the 2nd quarter worth about $1,591,427,000. Finally, GQG Partners LLC acquired a new position in Coca-Cola Consolidated in the 2nd quarter worth about $1,494,498,000. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

COKE has been the subject of several research reports. Wall Street Zen downgraded Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Weiss Ratings restated a "buy (b)" rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy".

Coca-Cola Consolidated Stock Up 0.0%

Shares of NASDAQ:COKE opened at $198.67 on Thursday. The firm has a market cap of $13.22 billion, a P/E ratio of 26.35 and a beta of 0.56. Coca-Cola Consolidated, Inc. has a 12-month low of $110.60 and a 12-month high of $219.65. The business has a fifty day simple moving average of $188.17 and a 200 day simple moving average of $189.10.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 EPS for the quarter. The firm had revenue of $2.05 billion for 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were paid 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 of this dividend was Friday, July 24th. Coca-Cola Consolidated's payout ratio is currently 13.26%.

Coca-Cola Consolidated Company Profile

Coca-Cola Consolidated, Inc is the largest Coca-Cola bottler in the United States. Headquartered in Charlotte, North Carolina, the company manufactures, sells, markets and distributes beverages produced under The Coca-Cola Company's brands, as well as a selection of other beverage products.

Its portfolio includes Coca-Cola, Diet Coke, Coca-Cola Zero Sugar, Sprite, Fanta, DASANI, smartwater, Powerade, Minute Maid, Simply, fairlife and Topo Chico, along with other brands and products available in its distribution territories.

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