Patron Partners LLC Takes $294,000 Position in Coca-Cola Consolidated, Inc. $COKE

Patron Partners LLC acquired a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 3,617 shares of the company’s stock, valued at approximately $294,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in COKE. BlackRock Inc. acquired a new stake in Coca-Cola Consolidated in the second quarter valued at approximately $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Coca-Cola Consolidated during the second quarter worth $1,591,427,000. Deutsche Bank AG acquired a new position in shares of Coca-Cola Consolidated during the second quarter worth $1,346,125,000. Vanguard Group Inc. increased its holdings in shares of Coca-Cola Consolidated by 6.4% during the fourth quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company’s stock worth $871,673,000 after buying an additional 341,374 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. AG bought a new position in shares of Coca-Cola Consolidated in the 2nd quarter valued at $272,683,000. Institutional investors own 48.24% of the company’s stock.

Wall Street Analyst Weigh In

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

Coca-Cola Consolidated Price Performance

NASDAQ:COKE opened at $189.10 on Friday. The firm’s 50 day simple moving average is $185.00 and its 200 day simple moving average is $185.77. Coca-Cola Consolidated, Inc. has a one year low of $110.60 and a one year high of $219.65. The company has a market cap of $12.59 billion, a PE ratio of 25.08 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share 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 Dividend Announcement

The firm also recently disclosed 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 of this dividend was Friday, July 24th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Coca-Cola Consolidated’s payout ratio is currently 13.26%.

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.