Fortress Financial Group LLC Takes $377,000 Position in Coca-Cola Consolidated, Inc. $COKE

Fortress Financial Group LLC bought a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,645 shares of the company’s stock, valued at approximately $377,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP purchased a new stake in Coca-Cola Consolidated during the 3rd quarter worth $25,000. Advisory Services Network LLC acquired a new position in Coca-Cola Consolidated in the 3rd quarter worth $25,000. J.Safra Asset Management Corp purchased a new position in Coca-Cola Consolidated in the 2nd quarter valued at about $26,000. Newbridge Financial Services Group Inc. boosted its position 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 valued at $26,000 after buying an additional 207 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in shares of Coca-Cola Consolidated by 900.0% during the second quarter. Geneos Wealth Management Inc. now owns 250 shares of the company’s stock valued at $28,000 after acquiring an additional 225 shares in the last quarter. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Coca-Cola Consolidated Trading Up 0.8%

Shares of COKE opened at $189.10 on Friday. The firm has a market cap of $12.59 billion, a price-to-earnings ratio of 25.08 and a beta of 0.55. The stock has a 50 day moving average of $185.00 and a 200-day moving average of $185.77. 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 issued its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share for the quarter. The business had revenue of $2.05 billion during 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were paid a dividend of $0.25 per share. 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 presently 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.