Primecap Management Co. CA Makes New $2.86 Million Investment in Coca-Cola Consolidated, Inc. $COKE

Primecap Management Co. CA purchased a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 35,200 shares of the company’s stock, valued at approximately $2,861,000. Primecap Management Co. CA owned about 0.05% of Coca-Cola Consolidated as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of COKE. Bessemer Group Inc. boosted its holdings in Coca-Cola Consolidated by 19.1% in the first quarter. Bessemer Group Inc. now owns 331 shares of the company’s stock worth $63,000 after purchasing an additional 53 shares in the last quarter. Beacon Pointe Advisors LLC raised its holdings in Coca-Cola Consolidated by 2.6% during the fourth quarter. Beacon Pointe Advisors LLC now owns 2,842 shares of the company’s stock valued at $436,000 after buying an additional 72 shares in the last quarter. Wealthfront Advisers LLC raised its holdings in Coca-Cola Consolidated by 4.1% during the first quarter. Wealthfront Advisers LLC now owns 1,869 shares of the company’s stock valued at $358,000 after buying an additional 73 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Coca-Cola Consolidated by 8.9% in the fourth quarter. UMB Bank n.a. now owns 951 shares of the company’s stock worth $146,000 after buying an additional 78 shares during the last quarter. Finally, Private Advisor Group LLC boosted its stake in shares of Coca-Cola Consolidated by 2.2% during the 3rd quarter. Private Advisor Group LLC now owns 4,297 shares of the company’s stock worth $503,000 after acquiring an additional 94 shares in the last quarter. Institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Performance

Shares of COKE opened at $194.02 on Thursday. The company has a 50-day simple moving average of $185.56 and a 200-day simple moving average of $186.85. Coca-Cola Consolidated, Inc. has a 52 week low of $110.60 and a 52 week high of $219.65. The firm has a market capitalization of $12.91 billion, a P/E ratio of 25.73 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE) last released 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 business had revenue of $2.05 billion for the quarter.

Coca-Cola Consolidated Dividend Announcement

The company also recently disclosed 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 annualized dividend 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 presently 13.26%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on COKE shares. Wall Street Zen lowered Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

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.