Strathmore Capital Advisors Inc. acquired a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 5,705 shares of the company's stock, valued at approximately $468,000.
Other hedge funds have also added to or reduced their stakes in the company. United Bank purchased a new stake in shares of Coca-Cola Consolidated in the second quarter worth $7,527,000. Uptick Partners LLC purchased a new position in shares of Coca-Cola Consolidated in the 2nd quarter worth about $840,000. CM Wealth Advisors LLC bought a new position in Coca-Cola Consolidated in the 2nd quarter worth about $590,000. Madison Asset Management LLC bought a new position in Coca-Cola Consolidated in the 2nd quarter worth about $2,495,000. Finally, Csenge Advisory Group bought a new position in Coca-Cola Consolidated in the 2nd quarter worth about $5,073,000. 48.24% of the stock is owned by institutional investors.
Coca-Cola Consolidated Trading Down 1.0%
Shares of COKE opened at $186.84 on Thursday. The business's fifty day simple moving average is $184.95 and its two-hundred day simple moving average is $185.50. Coca-Cola Consolidated, Inc. has a 12 month low of $110.60 and a 12 month high of $219.65. The company has a market cap of $12.44 billion, a price-to-earnings ratio of 24.78 and a beta of 0.55.
Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $2.83 EPS for the quarter. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%.The business had revenue of $2.05 billion during the quarter.
Coca-Cola Consolidated Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, July 24th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Coca-Cola Consolidated's dividend payout ratio (DPR) is 13.26%.
Analysts Set New Price Targets
A number of analysts have weighed in on COKE shares. 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 reaffirmed 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, Based on data from MarketBeat, Coca-Cola Consolidated currently has an average rating of "Buy".
Read Our Latest Stock Report on Coca-Cola Consolidated
Coca-Cola Consolidated Profile
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Free Report)
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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