Paragon Financial Partners Inc. Buys Shares of 4,001 Coca-Cola Consolidated, Inc. $COKE

Paragon Financial Partners Inc. bought a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 4,001 shares of the company’s stock, valued at approximately $350,000.

Several other institutional investors have also modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Coca-Cola Consolidated by 8.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,251 shares of the company’s stock valued at $23,289,000 after acquiring an additional 1,385 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Coca-Cola Consolidated by 1,587.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 270 shares of the company’s stock worth $30,000 after purchasing an additional 254 shares during the last quarter. Baird Financial Group Inc. raised its stake in Coca-Cola Consolidated by 795.4% during the second quarter. Baird Financial Group Inc. now owns 9,966 shares of the company’s stock worth $1,113,000 after purchasing an additional 8,853 shares during the period. Marshall Wace LLP boosted its holdings in Coca-Cola Consolidated by 5,152.8% in the 2nd quarter. Marshall Wace LLP now owns 18,910 shares of the company’s stock valued at $2,111,000 after purchasing an additional 18,550 shares during the last quarter. Finally, Cresset Asset Management LLC boosted its holdings in Coca-Cola Consolidated by 169.0% in the 2nd quarter. Cresset Asset Management LLC now owns 4,589 shares of the company’s stock valued at $512,000 after purchasing an additional 2,883 shares during the last quarter. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Trading Down 1.5%

Shares of NASDAQ:COKE opened at $186.21 on Tuesday. The company has a market capitalization of $12.39 billion, a price-to-earnings ratio of 24.70 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 12-month low of $110.60 and a 12-month high of $219.65. The business has a 50-day moving average price of $184.96 and a 200 day moving average price of $184.96.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its earnings results on Wednesday, August 5th. The company reported $2.83 EPS for the quarter. Coca-Cola Consolidated had a net margin of 7.15% and a negative return on equity of 1,041.59%. The company had revenue of $2.05 billion for the quarter.

Coca-Cola Consolidated Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date was Friday, July 24th. Coca-Cola Consolidated’s dividend payout ratio (DPR) is 13.26%.

Analysts Set New Price Targets

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