NewEdge Wealth LLC Makes New $39.31 Million Investment in Coca-Cola Consolidated, Inc. $COKE

NewEdge Wealth LLC bought a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, Holdings Channel.com reports. The firm bought 483,648 shares of the company’s stock, valued at approximately $39,306,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of COKE. Ascentis Independent Advisors bought a new position in shares of Coca-Cola Consolidated in the first quarter valued at approximately $31,000. Torren Management LLC bought a new stake in Coca-Cola Consolidated during the fourth quarter worth $29,000. Morse Asset Management Inc purchased a new position in Coca-Cola Consolidated in the fourth quarter worth $31,000. Ballast Advisors LLC purchased a new position in Coca-Cola Consolidated in the first quarter worth $38,000. Finally, Quarry LP purchased a new position in Coca-Cola Consolidated in the third quarter worth $25,000. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on COKE shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. Wall Street Zen downgraded shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy”.

Coca-Cola Consolidated Trading Down 1.0%

Shares of NASDAQ COKE opened at $186.84 on Thursday. The stock has a fifty day simple moving average of $184.95 and a two-hundred day simple moving average of $185.50. Coca-Cola Consolidated, Inc. has a 1-year low of $110.60 and a 1-year high of $219.65. The firm has a market cap of $12.44 billion, a price-to-earnings ratio of 24.78 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share (EPS) 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 Dividend Announcement

The firm also recently announced 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. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Friday, July 24th. Coca-Cola Consolidated’s dividend payout ratio (DPR) is currently 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.