Grandfield & Dodd LLC Buys New Position in Coca-Cola Consolidated, Inc. $COKE

Grandfield & Dodd LLC acquired a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, Holdings Channel reports. The fund acquired 43,982 shares of the company’s stock, valued at approximately $3,574,000.

Other institutional investors also recently modified their holdings of the company. Bessemer Group Inc. grew its stake in Coca-Cola Consolidated by 19.1% in the 1st quarter. Bessemer Group Inc. now owns 331 shares of the company’s stock valued at $63,000 after purchasing an additional 53 shares during the period. Beacon Pointe Advisors LLC increased its stake in shares of Coca-Cola Consolidated by 2.6% in the fourth quarter. Beacon Pointe Advisors LLC now owns 2,842 shares of the company’s stock worth $436,000 after purchasing an additional 72 shares in the last quarter. Wealthfront Advisers LLC grew its stake in Coca-Cola Consolidated by 4.1% in the 1st quarter. Wealthfront Advisers LLC now owns 1,869 shares of the company’s stock valued at $358,000 after buying an additional 73 shares in the last quarter. UMB Bank n.a. grew its position in shares of Coca-Cola Consolidated by 8.9% in the fourth quarter. UMB Bank n.a. now owns 951 shares of the company’s stock valued at $146,000 after purchasing an additional 78 shares in the last quarter. Finally, Private Advisor Group LLC grew its holdings in Coca-Cola Consolidated by 2.2% during the 3rd quarter. Private Advisor Group LLC now owns 4,297 shares of the company’s stock valued at $503,000 after buying an additional 94 shares in the last quarter. 48.24% of the stock is owned by institutional investors.

Coca-Cola Consolidated Price Performance

COKE opened at $186.21 on Tuesday. The business has a 50 day simple moving average of $184.96 and a two-hundred day simple moving average of $184.96. Coca-Cola Consolidated, Inc. has a one year low of $110.60 and a one year high of $219.65. The firm has a market capitalization of $12.39 billion, a price-to-earnings ratio of 24.70 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE) last released its quarterly 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 for the quarter.

Coca-Cola Consolidated Dividend Announcement

The company also recently announced 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 presently 13.26%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on COKE. Wall Street Zen cut shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently 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.