Trail Ridge Investment Advisors LLC Takes $324,000 Position in Coca-Cola Consolidated, Inc. $COKE

Trail Ridge Investment Advisors LLC bought a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,981 shares of the company’s stock, valued at approximately $324,000.

Several other large investors also recently modified their holdings of the business. BlackRock Inc. bought a new position in Coca-Cola Consolidated during the 2nd quarter valued at approximately $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Coca-Cola Consolidated in the 2nd quarter worth approximately $1,591,427,000. GQG Partners LLC bought a new stake in shares of Coca-Cola Consolidated in the 2nd quarter worth approximately $1,494,498,000. Deutsche Bank AG purchased a new position in shares of Coca-Cola Consolidated during the second quarter valued at approximately $1,346,125,000. Finally, Vanguard Group Inc. increased its stake in shares of Coca-Cola Consolidated by 6.4% during the fourth quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company’s stock valued at $871,673,000 after buying an additional 341,374 shares during the period. 48.24% of the stock is owned by institutional investors.

Coca-Cola Consolidated Price Performance

Shares of COKE opened at $192.60 on Tuesday. The company has a 50-day simple moving average of $185.14 and a two-hundred day simple moving average of $186.25. The firm has a market capitalization of $12.82 billion, a PE ratio of 25.54 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 posted its earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share for the quarter. The firm had revenue of $2.05 billion for the quarter. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%.

Coca-Cola Consolidated Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on COKE. Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. Wall Street Zen downgraded shares of 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, Based on data from MarketBeat.com, Coca-Cola Consolidated presently has a consensus 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.