TCM Advisors LLC Buys Shares of 16,283 Coca-Cola Consolidated, Inc. $COKE

Key Points

• TCM Advisors LLC initiated a position in Coca-Cola Consolidated by purchasing 16,283 shares valued at approximately $1.323 million. Institutional investors and hedge funds collectively own 48.24% of the company.
• Coca-Cola Consolidated reported quarterly revenue of $2.05 billion and earnings per share of $2.83. The company also maintains a quarterly dividend of $0.25, equivalent to a 0.5% annualized yield.
• COKE shares opened at $189.10, with a 12-month range of $110.60 to $219.65. Analyst sentiment remains generally positive, with an average “Buy” rating despite one recent downgrade to “Hold.”

TCM Advisors LLC purchased a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,283 shares of the company's stock, valued at approximately $1,323,000. Coca-Cola Consolidated accounts for about 0.1% of TCM Advisors LLC's investment portfolio, making the stock its 12th largest holding.

Several other hedge funds have also made changes to their positions in COKE. Quarry LP acquired a new stake in Coca-Cola Consolidated during the 3rd quarter worth approximately $25,000. Advisory Services Network LLC acquired a new position in shares of Coca-Cola Consolidated in the third quarter worth $25,000. J.Safra Asset Management Corp acquired a new stake in shares of Coca-Cola Consolidated in the second quarter valued at $26,000. Newbridge Financial Services Group Inc. raised its stake in shares of Coca-Cola Consolidated by 900.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company's stock valued at $26,000 after acquiring an additional 207 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in Coca-Cola Consolidated by 900.0% in the second quarter. Geneos Wealth Management Inc. now owns 250 shares of the company's stock valued at $28,000 after purchasing an additional 225 shares during the period. Institutional investors and hedge funds own 48.24% of the company's stock.

Coca-Cola Consolidated Price Performance

NASDAQ:COKE opened at $189.10 on Monday. Coca-Cola Consolidated, Inc. has a 12 month low of $110.60 and a 12 month high of $219.65. The firm has a market capitalization of $12.59 billion, a PE ratio of 25.08 and a beta of 0.55. The business's fifty day moving average price is $185.00 and its 200 day moving average price is $185.99.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share (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 firm had revenue of $2.05 billion during the quarter.

Coca-Cola Consolidated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were paid a $0.25 dividend. The ex-dividend date was Friday, July 24th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. Coca-Cola Consolidated's payout ratio is currently 13.26%.

Analyst Upgrades and Downgrades

Several research firms recently commented on COKE. Wall Street Zen cut 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 analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company 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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