Private Advisory Group LLC Buys New Stake in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Private Advisory Group LLC purchased 8,164 shares of Coca-Cola Consolidated worth approximately $663,000 in the second quarter. Other institutions also established positions, bringing institutional ownership to 48.24%.
• Coca-Cola Consolidated reported quarterly revenue of $2.05 billion and earnings of $2.83 per share. The stock opened at $189.11, with a market capitalization of $12.59 billion.
• The company paid a quarterly dividend of $0.25, equivalent to a $1.00 annualized payout and a 0.5% yield. Analyst sentiment remains favorable overall, with a “Buy” consensus despite one recent downgrade to “Hold.”

Private Advisory Group LLC purchased a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,164 shares of the company's stock, valued at approximately $663,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COKE. Focus Partners Advisor Solutions LLC acquired a new stake in Coca-Cola Consolidated during the second quarter valued at approximately $5,118,000. ABN AMRO Bank N.V. acquired a new position in shares of Coca-Cola Consolidated in the 2nd quarter worth approximately $47,608,000. Summit Asset Management LLC acquired a new position in shares of Coca-Cola Consolidated in the 2nd quarter worth approximately $1,729,000. Kelleher Financial Advisors bought a new position in shares of Coca-Cola Consolidated during the 2nd quarter worth approximately $725,000. Finally, EJMK Ventures LLC bought a new position in shares of Coca-Cola Consolidated during the 2nd quarter worth approximately $400,000. Institutional investors own 48.24% of the company's stock.

Coca-Cola Consolidated Trading Down 0.6%

NASDAQ COKE opened at $189.11 on Friday. Coca-Cola Consolidated, Inc. has a 1-year low of $110.60 and a 1-year high of $219.65. The company has a 50 day moving average of $184.81 and a 200-day moving average of $184.46. The firm has a market cap of $12.59 billion, a price-to-earnings ratio of 25.08 and a beta of 0.55.

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

Coca-Cola Consolidated Dividend Announcement

The firm also recently disclosed 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 presently 13.26%.

Analyst Upgrades and Downgrades

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