PCM Encore LLC Acquires New Stake in Coca-Cola Consolidated, Inc. $COKE

PCM Encore LLC 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 Form 13F filing with the SEC. The institutional investor bought 17,138 shares of the company’s stock, valued at approximately $1,393,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Quarry LP acquired a new position in Coca-Cola Consolidated in the 3rd quarter valued at about $25,000. Advisory Services Network LLC acquired a new stake in shares of Coca-Cola Consolidated during the third quarter worth about $25,000. J.Safra Asset Management Corp acquired a new stake in shares of Coca-Cola Consolidated during the second quarter worth about $26,000. Newbridge Financial Services Group Inc. boosted its stake in shares of Coca-Cola Consolidated by 900.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company’s stock valued at $26,000 after purchasing an additional 207 shares during the period. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Coca-Cola Consolidated by 900.0% in the second quarter. Geneos Wealth Management Inc. now owns 250 shares of the company’s stock valued at $28,000 after purchasing an additional 225 shares during the period. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Price Performance

Shares of NASDAQ COKE opened at $187.60 on Friday. The stock’s 50-day moving average is $184.97 and its two-hundred day moving average is $185.75. Coca-Cola Consolidated, Inc. has a 1-year low of $110.60 and a 1-year high of $219.65. The company has a market cap of $12.49 billion, a price-to-earnings ratio of 24.88 and a beta of 0.55.

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

Coca-Cola Consolidated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were paid 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 dividend payout ratio is presently 13.26%.

Analyst Ratings Changes

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