Diversify Advisory Services LLC Invests $13.84 Million in Coca-Cola Consolidated, Inc. $COKE

Diversify Advisory Services LLC acquired a new stake 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 Securities and Exchange Commission (SEC). The institutional investor acquired 164,600 shares of the company’s stock, valued at approximately $13,838,000.

Several other hedge funds have also recently modified their holdings of the stock. Gables Capital Management Inc. acquired a new stake in Coca-Cola Consolidated in the 2nd quarter worth approximately $3,353,000. Brightwater Advisory LLC acquired a new position in Coca-Cola Consolidated during the 2nd quarter valued at approximately $416,000. Investmark Advisory Group LLC purchased a new position in shares of Coca-Cola Consolidated in the second quarter worth $392,000. Wealthfront Advisers LLC purchased a new position in shares of Coca-Cola Consolidated in the second quarter worth $40,789,000. Finally, Foster & Motley Inc. acquired a new stake in shares of Coca-Cola Consolidated during the second quarter worth $263,000. Institutional investors and hedge funds own 48.24% of the company’s stock.

Wall Street Analysts Forecast Growth

COKE has been the topic of a number of research analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. Wall Street Zen cut 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, According to data from MarketBeat, the company currently has an average rating of “Buy”.

Coca-Cola Consolidated Trading Up 1.3%

COKE opened at $188.64 on Wednesday. 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 $12.56 billion, a PE ratio of 25.02 and a beta of 0.55. The firm has a 50 day moving average of $185.03 and a two-hundred day moving average of $185.23.

Coca-Cola Consolidated (NASDAQ:COKE) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 EPS for the quarter. The business had revenue of $2.05 billion for 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 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 given a dividend of $0.25 per share. The ex-dividend date was Friday, July 24th. This represents a $1.00 dividend on an annualized basis and a 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.