Family Legacy Inc. Invests $6.58 Million in Coca-Cola Consolidated, Inc. $COKE

Family Legacy Inc. purchased a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 80,960 shares of the company’s stock, valued at approximately $6,580,000. Coca-Cola Consolidated comprises approximately 1.8% of Family Legacy Inc.’s holdings, making the stock its 14th biggest position.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP purchased a new position in Coca-Cola Consolidated in the 3rd quarter worth approximately $25,000. Advisory Services Network LLC bought a new stake in shares of Coca-Cola Consolidated in the 3rd quarter worth $25,000. 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 worth $26,000 after purchasing an additional 207 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Coca-Cola Consolidated by 900.0% in the second quarter. Geneos Wealth Management Inc. now owns 250 shares of the company’s stock worth $28,000 after purchasing an additional 225 shares during the last quarter. Finally, Torren Management LLC purchased a new position in shares of Coca-Cola Consolidated in the fourth quarter worth $29,000. Institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Trading Down 0.6%

Shares of COKE stock opened at $189.11 on Friday. Coca-Cola Consolidated, Inc. has a 12-month low of $110.60 and a 12-month high of $219.65. The firm’s 50 day moving average is $184.81 and its 200 day moving average is $184.46. The stock has a market capitalization of $12.59 billion, a P/E ratio of 25.08 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its earnings results on Wednesday, August 5th. The company reported $2.83 EPS for the quarter. The business had revenue of $2.05 billion during the quarter. Coca-Cola Consolidated had a net margin of 7.15% and a negative return on equity of 1,041.59%.

Coca-Cola Consolidated Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were paid a $0.25 dividend. 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 dividend payout ratio (DPR) is 13.26%.

Analysts Set New Price Targets

Several equities research analysts recently commented on COKE shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. Wall Street Zen lowered Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy”.

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.