Portfolio Design Labs LLC Invests $2.68 Million in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Portfolio Design Labs LLC acquired 32,965 shares of Coca-Cola Consolidated worth approximately $2.68 million during the second quarter. Institutional investors and hedge funds collectively own 48.24% of the company.
• Coca-Cola Consolidated reported quarterly earnings of $2.83 per share on $2.05 billion in revenue, with a 7.15% net margin. The company also paid a quarterly dividend of $0.25 per share, representing a 0.5% annualized yield.
• COKE shares opened at $187.60, up 0.4%, with a market capitalization of $12.49 billion. Analyst sentiment remains generally positive, with the stock carrying an average “Buy” rating despite one recent downgrade to “Hold.”

Portfolio Design Labs LLC acquired a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 32,965 shares of the company's stock, valued at approximately $2,679,000.

A number of other large investors have also modified their holdings of the company. Bessemer Group Inc. lifted its position in Coca-Cola Consolidated by 19.1% in the first quarter. Bessemer Group Inc. now owns 331 shares of the company's stock worth $63,000 after purchasing an additional 53 shares during the period. Beacon Pointe Advisors LLC increased its holdings in Coca-Cola Consolidated by 2.6% in the 4th quarter. Beacon Pointe Advisors LLC now owns 2,842 shares of the company's stock valued at $436,000 after buying an additional 72 shares during the period. Wealthfront Advisers LLC raised its stake in shares of Coca-Cola Consolidated by 4.1% in the 1st quarter. Wealthfront Advisers LLC now owns 1,869 shares of the company's stock valued at $358,000 after buying an additional 73 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Coca-Cola Consolidated by 8.9% in the 4th quarter. UMB Bank n.a. now owns 951 shares of the company's stock valued at $146,000 after buying an additional 78 shares in the last quarter. Finally, Private Advisor Group LLC lifted its holdings in shares of Coca-Cola Consolidated by 2.2% during the 3rd quarter. Private Advisor Group LLC now owns 4,297 shares of the company's stock worth $503,000 after acquiring an additional 94 shares during the period. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Coca-Cola Consolidated Stock Up 0.4%

Shares of COKE stock opened at $187.60 on Friday. The company has a market capitalization of $12.49 billion, a P/E ratio of 24.88 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 12-month low of $110.60 and a 12-month high of $219.65. The firm has a 50-day moving average price of $184.97 and a 200 day moving average price of $185.75.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 earnings per share for the quarter. The firm 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were issued 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 payout ratio is presently 13.26%.

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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