Fairtree Asset Management Pty Ltd Invests $1.35 Million in Coca-Cola Consolidated, Inc. $COKE

Fairtree Asset Management Pty Ltd acquired a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 16,571 shares of the company’s stock, valued at approximately $1,347,000.

Other large investors also recently modified their holdings of the company. Quarry LP bought a new stake in Coca-Cola Consolidated in the 3rd quarter worth approximately $25,000. Advisory Services Network LLC bought a new position in shares of Coca-Cola Consolidated during the 3rd quarter valued at $25,000. J.Safra Asset Management Corp bought a new position in shares of Coca-Cola Consolidated during the 2nd quarter valued at $26,000. Newbridge Financial Services Group Inc. raised its position in Coca-Cola Consolidated by 900.0% in the 2nd 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 period. Finally, Geneos Wealth Management Inc. grew its stake in shares of Coca-Cola Consolidated by 900.0% during the second quarter. Geneos Wealth Management Inc. now owns 250 shares of the company’s stock valued at $28,000 after buying an additional 225 shares during the last quarter. 48.24% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Stock Up 0.4%

Shares of NASDAQ COKE opened at $187.60 on Friday. The firm’s fifty day moving average is $184.97 and its 200 day moving average is $185.75. Coca-Cola Consolidated, Inc. has a 52 week low of $110.60 and a 52 week high of $219.65. The company has a market cap of $12.49 billion, a price-to-earnings ratio of 24.88 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share 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 firm also recently declared a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were given 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 is presently 13.26%.

Analyst Upgrades and Downgrades

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

Coca-Cola Consolidated Company 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.