Kentucky Farm Bureau Mutual Insurance Co Takes Position in Coca-Cola Consolidated, Inc. $COKE

Kentucky Farm Bureau Mutual Insurance Co purchased a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 30,000 shares of the company’s stock, valued at approximately $2,438,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Quarry LP bought a new stake in Coca-Cola Consolidated during the 3rd quarter worth approximately $25,000. Advisory Services Network LLC acquired a new stake in Coca-Cola Consolidated during the 3rd quarter worth approximately $25,000. J.Safra Asset Management Corp bought a new position in Coca-Cola Consolidated in the second quarter valued at approximately $26,000. Newbridge Financial Services Group Inc. boosted its holdings 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 buying an additional 207 shares during the period. Finally, Geneos Wealth Management Inc. boosted its holdings 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 buying an additional 225 shares during the period. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Consolidated Stock Performance

Shares of Coca-Cola Consolidated stock opened at $186.84 on Thursday. The firm has a market cap of $12.44 billion, a PE ratio of 24.78 and a beta of 0.55. The business’s 50 day simple moving average is $184.95 and its 200 day simple moving average is $185.50. 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 released its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share for the quarter. The firm 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. Investors of record on Friday, July 24th were issued 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 dividend payout ratio is presently 13.26%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on COKE shares. Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report 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 equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy”.

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.