TrueMark Investments LLC Makes New Investment in Coca-Cola Consolidated, Inc. $COKE

Key Points

• TrueMark Investments LLC has purchased a new position in Coca-Cola Consolidated, acquiring 45,160 shares valued at approximately $5,042,000 during the 2nd quarter.
• Analysts have upgraded Coca-Cola Consolidated's stock ratings, with Weiss Ratings moving from a "hold" to a "buy," contributing to a current consensus rating of "Buy."
• The company recently announced a quarterly dividend of $0.25, payable on November 7th, which translates to an annualized dividend of $1.00 and a yield of 0.8%.

TrueMark Investments LLC purchased a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 45,160 shares of the company's stock, valued at approximately $5,042,000. Coca-Cola Consolidated comprises 1.1% of TrueMark Investments LLC's investment portfolio, making the stock its 24th largest position. TrueMark Investments LLC owned about 0.05% of Coca-Cola Consolidated as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wayfinding Financial LLC bought a new position in shares of Coca-Cola Consolidated during the 1st quarter worth about $46,000. Semmax Financial Advisors Inc. bought a new position in shares of Coca-Cola Consolidated during the 1st quarter worth about $50,000. Allworth Financial LP lifted its holdings in shares of Coca-Cola Consolidated by 58.3% during the 1st quarter. Allworth Financial LP now owns 57 shares of the company's stock worth $79,000 after acquiring an additional 21 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Coca-Cola Consolidated by 40.9% during the 1st quarter. Fifth Third Bancorp now owns 62 shares of the company's stock worth $84,000 after acquiring an additional 18 shares during the period. Finally, Spire Wealth Management lifted its holdings in shares of Coca-Cola Consolidated by 115.6% during the 1st quarter. Spire Wealth Management now owns 69 shares of the company's stock worth $92,000 after acquiring an additional 37 shares during the period. 48.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

COKE has been the subject of a number of analyst reports. Weiss Ratings raised shares of Coca-Cola Consolidated from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, October 8th. Wall Street Zen raised shares of Coca-Cola Consolidated from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy".

Coca-Cola Consolidated Trading Up 0.8%

Shares of COKE stock opened at $131.68 on Friday. Coca-Cola Consolidated, Inc. has a 12-month low of $105.21 and a 12-month high of $146.09. The company has a market capitalization of $11.44 billion, a P/E ratio of 19.65 and a beta of 0.70. The company has a quick ratio of 1.78, a current ratio of 2.04 and a debt-to-equity ratio of 0.88. The firm has a 50-day moving average price of $118.91 and a 200 day moving average price of $125.84.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $2.24 earnings per share for the quarter. Coca-Cola Consolidated had a net margin of 8.43% and a return on equity of 44.91%. The company had revenue of $1.86 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, October 24th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, October 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. Coca-Cola Consolidated's payout ratio is currently 14.93%.

About Coca-Cola Consolidated

Coca-Cola Consolidated, Inc, together with its subsidiaries, manufactures, markets, and distributes nonalcoholic beverages primarily products of The Coca-Cola Company in the United States. The company offers sparkling beverages; and still beverages, including energy products, as well as noncarbonated beverages comprising bottled water, ready to drink coffee and tea, enhanced water, juices, and sports drinks.

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