Peachtree Investment Partners LLC Purchases Shares of 11,021 Coca-Cola Consolidated, Inc. $COKE

Key Points

• Peachtree Investment Partners purchased 11,021 shares of Coca-Cola Consolidated during the second quarter, valued at approximately $896,000.
• Institutional investors and hedge funds own 48.24% of COKE, with major additions from Vanguard, Boston Partners, First Trust Advisors and State Street.
• COKE reported quarterly revenue of $2.05 billion and EPS of $2.83, while maintaining a $0.25 quarterly dividend. The stock traded at $189.11, and analysts held a consensus “Buy” rating.

Peachtree Investment Partners LLC purchased a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 11,021 shares of the company's stock, valued at approximately $896,000.

Several other large investors have also recently made changes to their positions in COKE. Vanguard Group Inc. boosted its position in shares of Coca-Cola Consolidated by 6.4% during the 4th quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company's stock worth $871,673,000 after purchasing an additional 341,374 shares during the period. Boston Partners raised its position in Coca-Cola Consolidated by 7.8% in the fourth quarter. Boston Partners now owns 2,329,643 shares of the company's stock valued at $357,091,000 after purchasing an additional 169,555 shares during the period. First Trust Advisors LP raised its position in Coca-Cola Consolidated by 42.1% in the fourth quarter. First Trust Advisors LP now owns 2,037,083 shares of the company's stock valued at $312,285,000 after purchasing an additional 603,513 shares during the period. State Street Corp lifted its stake in Coca-Cola Consolidated by 836.9% during the second quarter. State Street Corp now owns 1,729,065 shares of the company's stock worth $193,050,000 after purchasing an additional 1,544,516 shares in the last quarter. Finally, Norges Bank acquired a new position in Coca-Cola Consolidated during the fourth quarter worth $222,408,000. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Consolidated Price Performance

Shares of COKE stock opened at $189.11 on Monday. Coca-Cola Consolidated, Inc. has a 52 week low of $110.60 and a 52 week high of $219.65. The stock has a market capitalization of $12.59 billion, a PE ratio of 25.08 and a beta of 0.55. The firm has a 50 day moving average of $184.81 and a two-hundred day moving average of $184.70.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 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 business also recently announced a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were issued a $0.25 dividend. The ex-dividend date was Friday, July 24th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. Coca-Cola Consolidated's dividend payout ratio (DPR) is 13.26%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on COKE shares. Wall Street Zen lowered Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Weiss Ratings reiterated a "buy (b)" rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Coca-Cola Consolidated currently has a consensus rating of "Buy".

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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