HBK Sorce Advisory LLC Invests $5.92 Million in Coca-Cola Consolidated, Inc. $COKE

HBK Sorce Advisory LLC bought a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, HoldingsChannel.com reports. The fund bought 68,145 shares of the company’s stock, valued at approximately $5,917,000.

Several other hedge funds have also bought and sold shares of COKE. Ascentis Independent Advisors bought a new position in Coca-Cola Consolidated during the first quarter worth about $31,000. Torren Management LLC bought a new stake in Coca-Cola Consolidated in the fourth quarter valued at approximately $29,000. Morse Asset Management Inc bought a new stake in Coca-Cola Consolidated in the fourth quarter valued at approximately $31,000. Ballast Advisors LLC acquired a new stake in shares of Coca-Cola Consolidated in the first quarter valued at approximately $38,000. Finally, Quarry LP acquired a new stake in shares of Coca-Cola Consolidated in the third quarter valued at approximately $25,000. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on COKE. Weiss Ratings reiterated 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 research note on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Coca-Cola Consolidated has a consensus rating of “Buy”.

Coca-Cola Consolidated Stock Performance

Shares of COKE stock opened at $189.11 on Monday. The company has a market capitalization of $12.59 billion, a price-to-earnings ratio of 25.08 and a beta of 0.55. The company has a 50-day simple moving average of $184.81 and a 200 day simple moving average of $184.70. Coca-Cola Consolidated, Inc. has a 52 week low of $110.60 and a 52 week high of $219.65.

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

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.