Korea Investment CORP Purchases New Position in Coca-Cola Consolidated, Inc. $COKE

Korea Investment CORP acquired a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,463,048 shares of the company’s stock, valued at approximately $200,172,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in COKE. Quarry LP purchased a new position in shares of Coca-Cola Consolidated in the third quarter worth $25,000. Advisory Services Network LLC bought a new stake in Coca-Cola Consolidated in the 3rd quarter worth about $25,000. J.Safra Asset Management Corp bought a new stake in Coca-Cola Consolidated in the 2nd quarter worth about $26,000. Newbridge Financial Services Group Inc. increased its holdings in Coca-Cola Consolidated by 900.0% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company’s stock worth $26,000 after buying an additional 207 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew 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 worth $28,000 after acquiring an additional 225 shares during the period. 48.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on COKE shares. Wall Street Zen downgraded shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Coca-Cola Consolidated currently has a consensus rating of “Buy”.

Coca-Cola Consolidated Price Performance

Shares of NASDAQ:COKE opened at $189.10 on Friday. The firm’s 50 day simple moving average is $185.00 and its two-hundred day simple moving average is $185.77. The company has a market capitalization of $12.59 billion, a P/E ratio of 25.08 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 1-year low of $110.60 and a 1-year high of $219.65.

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

Coca-Cola Consolidated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Shareholders 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 yield of 0.5%. The ex-dividend date of this dividend was Friday, July 24th. Coca-Cola Consolidated’s dividend payout ratio (DPR) is 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.