Valtrion Capital Management LLC Purchases Shares of 10,247 Coca-Cola Consolidated, Inc. $COKE

Key Points

• Valtrion Capital Management bought 10,247 shares of Coca-Cola Consolidated in the second quarter, worth approximately $833,000. Institutional investors collectively own 48.24% of the company.
• Coca-Cola Consolidated reported quarterly revenue of $2.05 billion and earnings of $2.83 per share, while its stock recently traded at $196.53, up 2.0%.
• The company paid a quarterly dividend of $0.25 per share, equivalent to an annualized $1.00 dividend and a 0.5% yield. Analysts maintain a consensus “Buy” rating, although one rating service downgraded the stock to “Hold.”

Valtrion Capital Management LLC purchased a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,247 shares of the company's stock, valued at approximately $833,000. Coca-Cola Consolidated comprises 0.6% of Valtrion Capital Management LLC's investment portfolio, making the stock its 26th biggest position.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. purchased a new stake in Coca-Cola Consolidated in the 2nd quarter valued at approximately $26,229,118,000. Legal & General Group Plc acquired a new stake in Coca-Cola Consolidated during the 2nd quarter valued at $1,978,267,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Coca-Cola Consolidated during the 2nd quarter valued at $1,591,427,000. GQG Partners LLC purchased a new position in Coca-Cola Consolidated during the second quarter worth $1,494,498,000. Finally, Deutsche Bank AG purchased a new position in Coca-Cola Consolidated during the second quarter worth $1,346,125,000. 48.24% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Trading Up 2.0%

Coca-Cola Consolidated stock opened at $196.53 on Wednesday. The firm has a market capitalization of $13.08 billion, a P/E ratio of 26.07 and a beta of 0.55. The stock has a fifty day moving average price of $185.35 and a 200 day moving average price of $186.58. Coca-Cola Consolidated, Inc. has a 52 week low of $110.60 and a 52 week high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last issued 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 for the quarter.

Coca-Cola Consolidated Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Wall Street Zen cut 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 analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy".

About Coca-Cola Consolidated

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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