Veratis Advisors Inc. Purchases New Stake in Coca-Cola Consolidated, Inc. $COKE

Veratis Advisors Inc. acquired a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, HoldingsChannel reports. The fund acquired 3,204 shares of the company’s stock, valued at approximately $260,000.

A number of other hedge funds have also made changes to their positions in COKE. Ascentis Independent Advisors purchased a new stake in Coca-Cola Consolidated during the 1st quarter worth $31,000. Torren Management LLC purchased a new stake in shares of Coca-Cola Consolidated in the fourth quarter worth about $29,000. Morse Asset Management Inc acquired a new stake in shares of Coca-Cola Consolidated in the fourth quarter valued at about $31,000. Ballast Advisors LLC purchased a new stake in shares of Coca-Cola Consolidated during the 1st quarter valued at about $38,000. Finally, Quarry LP acquired a new position in Coca-Cola Consolidated during the 3rd quarter worth approximately $25,000. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Performance

Shares of NASDAQ COKE opened at $192.60 on Tuesday. Coca-Cola Consolidated, Inc. has a 1 year low of $110.60 and a 1 year high of $219.65. The stock’s 50-day simple moving average is $185.14 and its 200-day simple moving average is $186.25. The firm has a market cap of $12.82 billion, a price-to-earnings ratio of 25.54 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 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 firm had revenue of $2.05 billion during the quarter.

Coca-Cola Consolidated Announces Dividend

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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis 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 is presently 13.26%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports 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 shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Coca-Cola Consolidated has an average rating of “Buy”.

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.