UNIVEST FINANCIAL Corp Makes New $767,000 Investment in Coca-Cola Consolidated, Inc. $COKE

Key Points

• UNIVEST FINANCIAL Corp acquired 9,437 shares of Coca-Cola Consolidated in the second quarter, valued at approximately $767,000. Several other investment firms also initiated positions, while institutional investors and hedge funds collectively own 48.24% of the stock.
• Analyst sentiment remains positive overall, with Coca-Cola Consolidated holding a consensus “Buy” rating, despite one firm downgrading the shares to “Hold.”
• COKE reported quarterly revenue of $2.05 billion and earnings per share of $2.83. The company also paid a quarterly dividend of $0.25 per share, equivalent to a 0.5% annualized yield.

UNIVEST FINANCIAL Corp bought a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 9,437 shares of the company's stock, valued at approximately $767,000.

A number of other hedge funds have also recently made changes to their positions in COKE. Grandfield & Dodd LLC bought a new stake in shares of Coca-Cola Consolidated during the second quarter worth about $3,574,000. Auxano Advisors LLC bought a new position in Coca-Cola Consolidated in the 2nd quarter valued at approximately $589,000. Argyle Capital Partners LLC bought a new position in Coca-Cola Consolidated in the 2nd quarter valued at approximately $479,000. IMG Wealth Management Inc. acquired a new stake in Coca-Cola Consolidated during the 2nd quarter worth approximately $241,000. Finally, Focused Alpha LLC acquired a new stake in Coca-Cola Consolidated during the 2nd quarter worth approximately $240,000. 48.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research 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 report on Saturday, August 8th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy".

Coca-Cola Consolidated Price Performance

Shares of COKE stock opened at $186.21 on Tuesday. The business's 50 day simple moving average is $184.96 and its 200 day simple moving average is $184.96. Coca-Cola Consolidated, Inc. has a one year low of $110.60 and a one year high of $219.65. The stock has a market capitalization of $12.39 billion, a PE ratio of 24.70 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share for the quarter. Coca-Cola Consolidated had a net margin of 7.15% and a negative return on equity of 1,041.59%. The business 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. Stockholders of record on Friday, July 24th were given a dividend of $0.25 per share. The ex-dividend date 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 is 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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