Pavion Blue Capital LLC Invests $4.29 Million in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Pavion Blue Capital LLC acquired 52,841 shares of Coca-Cola Consolidated worth approximately $4.29 million, representing about 0.08% of the company and 1.7% of the fund’s portfolio.
• Institutional investors own 48.24% of Coca-Cola Consolidated, with several other funds recently initiating or expanding positions.
• Coca-Cola Consolidated reported quarterly revenue of $2.05 billion and earnings of $2.83 per share. The company also paid a $0.25 quarterly dividend, while analysts maintain a consensus “Buy” rating despite the stock trading down 1.5%.

Pavion Blue Capital LLC purchased a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 52,841 shares of the company's stock, valued at approximately $4,294,000. Coca-Cola Consolidated comprises approximately 1.7% of Pavion Blue Capital LLC's portfolio, making the stock its 21st biggest holding. Pavion Blue Capital LLC owned approximately 0.08% of Coca-Cola Consolidated as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Quarry LP purchased a new stake in shares of Coca-Cola Consolidated during the third quarter valued at approximately $25,000. Advisory Services Network LLC purchased a new position in shares of Coca-Cola Consolidated in the third quarter worth $25,000. J.Safra Asset Management Corp purchased a new position in shares of Coca-Cola Consolidated in the second quarter worth $26,000. Newbridge Financial Services Group Inc. raised its holdings in Coca-Cola Consolidated by 900.0% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company's stock valued at $26,000 after buying an additional 207 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in Coca-Cola Consolidated by 900.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 250 shares of the company's stock valued at $28,000 after buying an additional 225 shares during the last quarter. Institutional investors own 48.24% of the company's stock.

Coca-Cola Consolidated Stock Down 1.5%

Shares of Coca-Cola Consolidated stock opened at $186.21 on Tuesday. The business has a 50 day moving average of $184.96 and a 200 day moving average of $184.96. 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 cap of $12.39 billion, a PE ratio of 24.70 and a beta of 0.55.

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

Coca-Cola Consolidated Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were given a $0.25 dividend. This represents a $1.00 annualized dividend 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%.

Analysts Set New Price Targets

A number of brokerages have issued reports on COKE. Wall Street Zen lowered shares of Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a report 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 analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy".

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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