TrinityBridge Ltd Invests $19.15 Million in Coca-Cola Consolidated, Inc. $COKE

TrinityBridge Ltd acquired a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, HoldingsChannel reports. The fund acquired 235,742 shares of the company’s stock, valued at approximately $19,151,000.

Several other institutional investors also recently bought and sold shares of COKE. BlackRock Inc. purchased a new stake in Coca-Cola Consolidated during the second quarter worth $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Coca-Cola Consolidated in the 2nd quarter valued at $1,591,427,000. Deutsche Bank AG purchased a new position in shares of Coca-Cola Consolidated in the 2nd quarter valued at $1,346,125,000. Vanguard Group Inc. raised its position in shares of Coca-Cola Consolidated by 6.4% in the 4th quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company’s stock worth $871,673,000 after acquiring an additional 341,374 shares in the last quarter. Finally, Boston Partners raised its position in shares of Coca-Cola Consolidated by 7.8% in the 4th quarter. Boston Partners now owns 2,329,643 shares of the company’s stock worth $357,091,000 after acquiring an additional 169,555 shares in the last quarter. 48.24% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Price Performance

Shares of NASDAQ:COKE opened at $187.60 on Friday. The business’s 50-day moving average is $184.97 and its 200 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 firm has a market capitalization of $12.49 billion, a P/E ratio of 24.88 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 earnings per share for the quarter. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%.The business had revenue of $2.05 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were paid a $0.25 dividend. The ex-dividend date was Friday, July 24th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is 13.26%.

Wall Street Analyst Weigh In

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

About Coca-Cola Consolidated

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.