D.B. Root & Company LLC Buys Shares of 14,777 Coca-Cola Consolidated, Inc. $COKE

D.B. Root & Company LLC acquired a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,777 shares of the company’s stock, valued at approximately $1,201,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. bought a new position in Coca-Cola Consolidated in the 2nd quarter valued at approximately $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Coca-Cola Consolidated in the 2nd quarter valued at about $1,591,427,000. GQG Partners LLC bought a new stake in Coca-Cola Consolidated in the second quarter valued at approximately $1,494,498,000. Deutsche Bank AG acquired a new stake in shares of Coca-Cola Consolidated during the second quarter worth $1,346,125,000. Finally, B. Metzler seel. Sohn & Co. AG acquired a new stake in shares of Coca-Cola Consolidated during the second quarter worth $272,683,000. Institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Price Performance

Shares of NASDAQ:COKE opened at $189.10 on Monday. Coca-Cola Consolidated, Inc. has a twelve month low of $110.60 and a twelve month high of $219.65. The stock’s 50 day moving average is $185.00 and its 200-day moving average is $185.99. The firm has a market capitalization of $12.59 billion, a price-to-earnings ratio of 25.08 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 business had revenue of $2.05 billion during 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend 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%.

Wall Street Analysts Forecast Growth

A number of equities 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 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, Based on data from MarketBeat, Coca-Cola Consolidated 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.