Somerville Kurt F Buys Shares of 12,500 Coca-Cola Consolidated, Inc. $COKE

Somerville Kurt F bought a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,500 shares of the company’s stock, valued at approximately $1,016,000.

Other large investors have also recently made changes to their positions in the company. Ascentis Independent Advisors purchased a new position in shares of Coca-Cola Consolidated in the first quarter valued at $31,000. Torren Management LLC purchased a new stake in Coca-Cola Consolidated during the 4th quarter worth about $29,000. Morse Asset Management Inc purchased a new stake in Coca-Cola Consolidated during the 4th quarter worth about $31,000. Ballast Advisors LLC bought a new position in Coca-Cola Consolidated in the 1st quarter worth about $38,000. Finally, Quarry LP bought a new position in Coca-Cola Consolidated in the 3rd quarter worth about $25,000. 48.24% of the stock is owned by institutional investors.

Coca-Cola Consolidated Price Performance

Shares of Coca-Cola Consolidated stock opened at $186.84 on Thursday. 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 PE ratio of 24.78 and a beta of 0.55. The company has a 50 day simple moving average of $184.95 and a two-hundred day simple moving average of $185.50.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 EPS for the quarter. The firm 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 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 given a $0.25 dividend. The ex-dividend date was Friday, July 24th. This represents a $1.00 annualized dividend and a yield of 0.5%. Coca-Cola Consolidated’s payout ratio is 13.26%.

Wall Street Analysts Forecast Growth

COKE has been the topic of several analyst reports. Wall Street Zen cut Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently 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.