Dearborn Partners LLC Makes New $3.69 Million Investment in Coca-Cola Consolidated, Inc. $COKE

Dearborn Partners LLC purchased a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 48,518 shares of the company’s stock, valued at approximately $3,690,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Trail Ridge Investment Advisors LLC purchased a new position in shares of Coca-Cola Consolidated in the second quarter worth $324,000. Ames National Corp acquired a new position in shares of Coca-Cola Consolidated in the 2nd quarter valued at $374,000. D.B. Root & Company LLC acquired a new position in shares of Coca-Cola Consolidated in the 2nd quarter valued at $1,201,000. GSG Advisors LLC purchased a new position in Coca-Cola Consolidated in the 2nd quarter worth $363,000. Finally, Asset One Wealth Management LLC purchased a new position in Coca-Cola Consolidated in the 2nd quarter worth $428,000. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Price Performance

COKE stock opened at $192.60 on Tuesday. The firm’s fifty day simple moving average is $185.14 and its 200-day simple moving average is $186.25. The company has a market capitalization of $12.82 billion, a P/E ratio of 25.54 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 12 month low of $110.60 and a 12 month high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share (EPS) for the quarter. The firm 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 business also recently declared a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Friday, July 24th. Coca-Cola Consolidated’s dividend payout ratio (DPR) is currently 13.26%.

Analysts Set New Price Targets

A number of analysts have commented on the company. Wall Street Zen cut Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. 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 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.