Principle Wealth Partners LLC Invests $8.91 Million in Coca-Cola Consolidated, Inc. $COKE

Principle Wealth Partners LLC purchased a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 109,604 shares of the company’s stock, valued at approximately $8,908,000.

A number of other large investors have also made changes to their positions in COKE. UP Strategic Wealth Investment Advisors LLC acquired a new stake in Coca-Cola Consolidated during the 2nd quarter worth $520,000. Requisite Capital Management LLC acquired a new stake in shares of Coca-Cola Consolidated during the second quarter worth about $412,000. Focused Wealth Management Inc acquired a new position in shares of Coca-Cola Consolidated in the 2nd quarter valued at approximately $305,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Coca-Cola Consolidated during the 2nd quarter worth approximately $1,591,427,000. Finally, Persistent Asset Partners Ltd acquired a new stake in Coca-Cola Consolidated during the 2nd quarter worth approximately $74,000. Institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Price Performance

COKE stock opened at $186.21 on Tuesday. The stock has a market capitalization of $12.39 billion, a P/E ratio of 24.70 and a beta of 0.55. The business has a 50-day moving average of $184.96 and a 200-day moving average of $184.96. Coca-Cola Consolidated, Inc. has a fifty-two week low of $110.60 and a fifty-two week high of $219.65.

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. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%.The business had revenue of $2.05 billion during the quarter.

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 of this dividend was Friday, July 24th. Coca-Cola Consolidated’s dividend payout ratio (DPR) is currently 13.26%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on COKE. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. Wall Street Zen lowered shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Coca-Cola Consolidated 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.