Shepherd Financial Partners LLC Invests $4.34 Million in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Shepherd Financial Partners initiated a $4.34 million position in Coca-Cola Consolidated during the second quarter, purchasing 53,373 shares and acquiring roughly 0.08% of the company.
• Institutional investors and hedge funds own 48.24% of COKE, with Vanguard holding approximately 5.69 million shares valued at $871.7 million.
• Coca-Cola Consolidated reported quarterly revenue of $2.05 billion and earnings of $2.83 per share, while maintaining a $0.25 quarterly dividend. The stock recently traded at $186.84, and analysts’ consensus rating remains “Buy.”

Shepherd Financial Partners LLC bought a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm bought 53,373 shares of the company's stock, valued at approximately $4,338,000. Shepherd Financial Partners LLC owned approximately 0.08% of Coca-Cola Consolidated as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of COKE. Vanguard Group Inc. boosted its stake in Coca-Cola Consolidated by 6.4% during the 4th quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company's stock valued at $871,673,000 after purchasing an additional 341,374 shares during the last quarter. Catalyst Investment Management LLC purchased a new stake in shares of Coca-Cola Consolidated in the second quarter worth approximately $573,000. Horizon Investments LLC raised its stake in shares of Coca-Cola Consolidated by 1,655,666.7% in the fourth quarter. Horizon Investments LLC now owns 49,673 shares of the company's stock worth $7,602,000 after purchasing an additional 49,670 shares during the last quarter. Vest Financial LLC lifted its holdings in shares of Coca-Cola Consolidated by 60.8% in the fourth quarter. Vest Financial LLC now owns 232,597 shares of the company's stock valued at $35,657,000 after purchasing an additional 87,912 shares in the last quarter. Finally, James Investment Research Inc. lifted its holdings in shares of Coca-Cola Consolidated by 62.2% in the fourth quarter. James Investment Research Inc. now owns 22,412 shares of the company's stock valued at $3,436,000 after purchasing an additional 8,593 shares in the last quarter. Institutional investors and hedge funds own 48.24% of the company's stock.

Coca-Cola Consolidated Price Performance

Shares of Coca-Cola Consolidated stock opened at $186.84 on Thursday. Coca-Cola Consolidated, Inc. has a 1 year low of $110.60 and a 1 year high of $219.65. The firm has a market cap of $12.44 billion, a PE ratio of 24.78 and a beta of 0.55. The stock has a fifty day moving average price of $184.95 and a 200-day moving average price of $185.50.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share for the quarter. The company 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 business also recently announced a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were given 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 dividend payout ratio is currently 13.26%.

Wall Street Analyst Weigh In

COKE has been the subject of several recent research reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. Wall Street Zen cut Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Coca-Cola Consolidated presently has a consensus 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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