Sanctuary Advisors LLC Takes Position in Coca-Cola Consolidated, Inc. $COKE

Sanctuary Advisors LLC acquired a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 529,648 shares of the company’s stock, valued at approximately $43,044,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in COKE. BlackRock Inc. bought a new stake in Coca-Cola Consolidated during the second quarter worth approximately $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Coca-Cola Consolidated in the second quarter worth approximately $1,591,427,000. GQG Partners LLC bought a new position in shares of Coca-Cola Consolidated in the second quarter valued at $1,494,498,000. Deutsche Bank AG acquired a new stake in shares of Coca-Cola Consolidated during the 2nd quarter valued at $1,346,125,000. Finally, B. Metzler seel. Sohn & Co. AG acquired a new stake in shares of Coca-Cola Consolidated during the 2nd quarter valued at $272,683,000. 48.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on COKE. Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note 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 equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy”.

Coca-Cola Consolidated Price Performance

Shares of COKE opened at $189.10 on Monday. The company has a 50-day moving average of $185.00 and a two-hundred day moving average of $185.99. The stock has a market cap of $12.59 billion, a price-to-earnings ratio of 25.08 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a one year low of $110.60 and a one year high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE) last released its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share (EPS) for the quarter. The business had revenue of $2.05 billion for 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 announced 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. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Friday, July 24th. Coca-Cola Consolidated’s 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.