Keebeck Wealth Management Acquires New Position in Coca-Cola Consolidated, Inc. $COKE

Keebeck Wealth Management acquired a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,857 shares of the company’s stock, valued at approximately $725,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of COKE. Ascentis Independent Advisors bought a new position in shares of Coca-Cola Consolidated during the first quarter valued at approximately $31,000. Torren Management LLC bought a new stake in shares of Coca-Cola Consolidated in the 4th quarter worth approximately $29,000. Morse Asset Management Inc bought a new stake in shares of Coca-Cola Consolidated in the 4th quarter worth approximately $31,000. Ballast Advisors LLC acquired a new position in Coca-Cola Consolidated during the 1st quarter valued at approximately $38,000. Finally, Quarry LP acquired a new position in Coca-Cola Consolidated during the 3rd quarter valued at approximately $25,000. Institutional investors and hedge funds own 48.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on COKE shares. Wall Street Zen lowered Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy”.

Coca-Cola Consolidated Price Performance

Shares of COKE stock opened at $189.10 on Friday. Coca-Cola Consolidated, Inc. has a 12-month low of $110.60 and a 12-month high of $219.65. The firm has a market capitalization of $12.59 billion, a price-to-earnings ratio of 25.08 and a beta of 0.55. The business has a 50 day simple moving average of $185.00 and a 200 day simple moving average of $185.77.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share for the quarter. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%.The firm had revenue of $2.05 billion for the quarter.

Coca-Cola Consolidated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were issued a dividend of $0.25 per share. 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%.

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.