IMG Wealth Management Inc. Buys New Position in Coca-Cola Consolidated, Inc. $COKE

IMG Wealth Management Inc. bought a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,965 shares of the company’s stock, valued at approximately $241,000.

Several other hedge funds also recently modified their holdings of the company. Bessemer Group Inc. grew its holdings in shares of Coca-Cola Consolidated by 19.1% during the first quarter. Bessemer Group Inc. now owns 331 shares of the company’s stock worth $63,000 after buying an additional 53 shares in the last quarter. Beacon Pointe Advisors LLC lifted its stake in shares of Coca-Cola Consolidated by 2.6% during the fourth quarter. Beacon Pointe Advisors LLC now owns 2,842 shares of the company’s stock valued at $436,000 after buying an additional 72 shares during the period. Wealthfront Advisers LLC lifted its stake in shares of Coca-Cola Consolidated by 4.1% during the first quarter. Wealthfront Advisers LLC now owns 1,869 shares of the company’s stock valued at $358,000 after buying an additional 73 shares during the period. UMB Bank n.a. boosted its position in Coca-Cola Consolidated by 8.9% during the fourth quarter. UMB Bank n.a. now owns 951 shares of the company’s stock worth $146,000 after acquiring an additional 78 shares during the last quarter. Finally, Private Advisor Group LLC boosted its position 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 acquiring an additional 94 shares during the last quarter. 48.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

COKE has been the subject of several analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. Wall Street Zen cut Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy”.

Coca-Cola Consolidated Price Performance

NASDAQ COKE opened at $186.21 on Tuesday. Coca-Cola Consolidated, Inc. has a 12 month low of $110.60 and a 12 month high of $219.65. The company has a 50-day moving average of $184.96 and a 200-day moving average of $184.96. The company has a market cap of $12.39 billion, a P/E ratio of 24.70 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE) last released its earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share (EPS) 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 for the quarter.

Coca-Cola Consolidated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, July 24th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is currently 13.26%.

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.