Trajan Wealth LLC Makes New $8.50 Million Investment in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Trajan Wealth LLC acquired 104,617 shares of Coca-Cola Consolidated in the second quarter, valued at approximately $8.5 million and representing 0.16% of the company.
• Institutional investors and hedge funds own 48.24% of Coca-Cola Consolidated. Analyst sentiment remains broadly positive, with a consensus “Buy” rating despite one downgrade to “Hold.”
• COKE shares opened at $192.60, up 1.9%, while the company reported quarterly revenue of $2.05 billion and earnings of $2.83 per share. Coca-Cola Consolidated also maintains a quarterly dividend of $0.25 per share, yielding about 0.5%.

Trajan Wealth LLC acquired a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 104,617 shares of the company's stock, valued at approximately $8,502,000. Trajan Wealth LLC owned 0.16% of Coca-Cola Consolidated as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Bessemer Group Inc. lifted its holdings 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 worth $63,000 after purchasing an additional 53 shares in the last quarter. Beacon Pointe Advisors LLC increased its stake in Coca-Cola Consolidated by 2.6% during the 4th quarter. Beacon Pointe Advisors LLC now owns 2,842 shares of the company's stock valued at $436,000 after purchasing an additional 72 shares in the last quarter. Wealthfront Advisers LLC increased its stake in Coca-Cola Consolidated by 4.1% during the 1st quarter. Wealthfront Advisers LLC now owns 1,869 shares of the company's stock valued at $358,000 after purchasing an additional 73 shares in the last quarter. UMB Bank n.a. increased its stake in 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 purchasing an additional 78 shares in the last quarter. Finally, Private Advisor Group LLC raised its holdings in Coca-Cola Consolidated by 2.2% during the third quarter. Private Advisor Group LLC now owns 4,297 shares of the company's stock worth $503,000 after buying an additional 94 shares during the last quarter. 48.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. 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 reissued a "buy (b)" rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy".

Coca-Cola Consolidated Trading Up 1.9%

Shares of COKE opened at $192.60 on Tuesday. The stock has a 50 day moving average of $185.14 and a 200 day moving average of $186.25. The company has a market capitalization of $12.82 billion, a price-to-earnings ratio of 25.54 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 12 month low of $110.60 and a 12 month high of $219.65.

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 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 7th. Stockholders 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 was Friday, July 24th. Coca-Cola Consolidated's payout ratio is presently 13.26%.

Coca-Cola Consolidated 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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