OneDigital Investment Advisors LLC Invests $7.33 Million in Coca-Cola Consolidated, Inc. $COKE

Key Points

• OneDigital Investment Advisors purchased 90,241 Coca-Cola Consolidated shares worth approximately $7.33 million, representing about 0.14% of the company. Other institutional investors also increased their holdings, with institutions collectively owning 48.24% of shares.
• Coca-Cola Consolidated reported quarterly revenue of $2.05 billion and earnings of $2.83 per share. The stock opened at $189.11, compared with a 12-month range of $110.60 to $219.65.
• The company paid a quarterly dividend of $0.25 per share, or $1.00 annually, yielding approximately 0.5%. Analyst sentiment remains positive overall, with an average “Buy” rating despite one recent downgrade to “Hold.”

OneDigital Investment Advisors LLC bought a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 90,241 shares of the company's stock, valued at approximately $7,334,000. OneDigital Investment Advisors LLC owned approximately 0.14% of Coca-Cola Consolidated at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Coca-Cola Consolidated by 8.7% during the first 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 last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Coca-Cola Consolidated by 1,587.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 270 shares of the company's stock valued at $30,000 after purchasing an additional 254 shares during the last quarter. Baird Financial Group Inc. lifted its stake in shares of Coca-Cola Consolidated by 795.4% in the 2nd quarter. Baird Financial Group Inc. now owns 9,966 shares of the company's stock valued at $1,113,000 after purchasing an additional 8,853 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of 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 purchasing an additional 18,550 shares during the last quarter. Finally, Cresset Asset Management LLC boosted its holdings 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 worth $512,000 after purchasing an additional 2,883 shares during the period. Institutional investors own 48.24% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on COKE. 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 research report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy".

Coca-Cola Consolidated Stock Performance

Shares of NASDAQ:COKE opened at $189.11 on Monday. Coca-Cola Consolidated, Inc. has a 12 month low of $110.60 and a 12 month high of $219.65. The company has a market capitalization of $12.59 billion, a price-to-earnings ratio of 25.08 and a beta of 0.55. The firm's 50-day moving average is $184.81 and its 200 day moving average is $184.70.

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. 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 during the quarter.

Coca-Cola Consolidated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were paid a dividend of $0.25 per share. 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 dividend payout ratio (DPR) is currently 13.26%.

Coca-Cola Consolidated 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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