SGL Investment Advisors Inc. Takes $754,000 Position in Coca-Cola Consolidated, Inc. $COKE

Key Points

• SGL Investment Advisors initiated an approximately $754,000 position in Coca-Cola Consolidated during the second quarter by purchasing 8,684 shares. Institutional investors and hedge funds collectively own 48.24% of the company.
• Coca-Cola Consolidated reported quarterly earnings of $2.83 per share on revenue of $2.05 billion, with a 7.15% net margin. The company also paid a quarterly dividend of $0.25 per share, representing a 0.5% yield.
• COKE shares opened at $187.60, near their 50- and 200-day moving averages, while analyst sentiment remains a consensus “Buy” despite one firm recently downgrading the stock to “Hold.”

SGL Investment Advisors Inc. bought a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 8,684 shares of the company's stock, valued at approximately $754,000.

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on COKE. Wall Street Zen lowered shares of Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings restated 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, According to MarketBeat, the company has a consensus rating of "Buy".

Coca-Cola Consolidated Stock Up 0.4%

Shares of NASDAQ COKE opened at $187.60 on Friday. Coca-Cola Consolidated, Inc. has a 12-month low of $110.60 and a 12-month high of $219.65. The firm's 50-day simple moving average is $184.97 and its 200 day simple moving average is $185.75. The company has a market cap of $12.49 billion, a price-to-earnings ratio of 24.88 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last posted 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 during 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 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 payout ratio is 13.26%.

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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