OneAscent Family Office LLC Buys Shares of 11,033 Coca-Cola Consolidated, Inc. $COKE

Key Points

• OneAscent Family Office initiated a position in Coca-Cola Consolidated, buying 11,033 shares valued at approximately $897,000. 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. For its latest quarter, the company reported $2.83 in earnings per share and $2.05 billion in revenue.
• Coca-Cola Consolidated paid a quarterly dividend of $0.25, equivalent to an annualized $1.00 dividend and a 0.5% yield. Analyst sentiment remains positive overall, with the stock carrying a consensus “Buy” rating despite one recent downgrade to “Hold.”

OneAscent Family Office LLC purchased a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 11,033 shares of the company's stock, valued at approximately $897,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ascentis Independent Advisors acquired a new position in shares of Coca-Cola Consolidated during the first quarter valued at $31,000. Torren Management LLC bought a new stake in shares of Coca-Cola Consolidated during the fourth quarter valued at about $29,000. Morse Asset Management Inc acquired a new stake in Coca-Cola Consolidated in the fourth quarter worth about $31,000. Ballast Advisors LLC acquired a new stake in Coca-Cola Consolidated in the first quarter worth about $38,000. Finally, Quarry LP bought a new position in Coca-Cola Consolidated in the 3rd quarter valued at about $25,000. Institutional investors own 48.24% of the company's stock.

Coca-Cola Consolidated Stock Performance

Shares of COKE stock opened at $187.60 on Friday. Coca-Cola Consolidated, Inc. has a 1 year low of $110.60 and a 1 year high of $219.65. The business's fifty day moving average is $184.97 and its 200-day moving average is $185.75. The stock has a market cap of $12.49 billion, a PE ratio of 24.88 and a beta of 0.55.

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

Coca-Cola Consolidated Announces Dividend

The firm 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. 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 payout ratio is 13.26%.

Analyst Upgrades and Downgrades

Several research firms have commented on COKE. 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. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently 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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