Keating Financial Advisory Services Inc. Makes New Investment in Coca-Cola Consolidated, Inc. $COKE

Keating Financial Advisory Services Inc. acquired a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 7,239 shares of the company’s stock, valued at approximately $588,000.

A number of other hedge funds have also bought and sold shares of the business. Quarry LP purchased a new position in shares of Coca-Cola Consolidated during the third quarter valued at approximately $25,000. Advisory Services Network LLC bought a new position in Coca-Cola Consolidated during the third quarter valued at approximately $25,000. J.Safra Asset Management Corp purchased a new stake in Coca-Cola Consolidated in the second quarter worth approximately $26,000. Newbridge Financial Services Group Inc. boosted its holdings in Coca-Cola Consolidated by 900.0% in the second 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 last quarter. Finally, Geneos Wealth Management Inc. grew its position in Coca-Cola Consolidated by 900.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 250 shares of the company’s stock worth $28,000 after purchasing an additional 225 shares during the period. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Up 0.8%

NASDAQ COKE opened at $189.10 on Friday. The company has a 50-day moving average price of $185.00 and a 200-day moving average price of $185.77. Coca-Cola Consolidated, Inc. has a 52 week low of $110.60 and a 52 week high of $219.65. The firm has a market capitalization of $12.59 billion, a P/E ratio of 25.08 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 earnings per share (EPS) for the quarter. The company 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 firm also recently declared a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Friday, July 24th. Coca-Cola Consolidated’s dividend payout ratio (DPR) is currently 13.26%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on COKE shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. Wall Street Zen downgraded Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy”.

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.