Gables Capital Management Inc. Purchases New Stake in Coca-Cola Consolidated, Inc. $COKE

Gables Capital Management Inc. purchased a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 41,261 shares of the company’s stock, valued at approximately $3,353,000. Coca-Cola Consolidated accounts for approximately 1.2% of Gables Capital Management Inc.’s investment portfolio, making the stock its 22nd biggest position.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Coca-Cola Consolidated by 6.4% in the 4th 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. Horizon Investments LLC raised its position in Coca-Cola Consolidated by 1,655,666.7% during the fourth quarter. Horizon Investments LLC now owns 49,673 shares of the company’s stock worth $7,602,000 after acquiring an additional 49,670 shares during the last quarter. Vest Financial LLC lifted its holdings in shares of Coca-Cola Consolidated by 60.8% in the fourth quarter. Vest Financial LLC now owns 232,597 shares of the company’s stock valued at $35,657,000 after purchasing an additional 87,912 shares in the last quarter. James Investment Research Inc. grew its position in shares of Coca-Cola Consolidated by 62.2% in the fourth quarter. James Investment Research Inc. now owns 22,412 shares of the company’s stock valued at $3,436,000 after purchasing an additional 8,593 shares during the last quarter. Finally, Argyle Capital Partners LLC purchased a new position in shares of Coca-Cola Consolidated during the 2nd quarter worth approximately $479,000. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Trading Up 1.3%

Shares of Coca-Cola Consolidated stock opened at $188.64 on Wednesday. The business’s fifty day moving average price is $185.03 and its 200 day moving average price is $185.23. Coca-Cola Consolidated, Inc. has a twelve month low of $110.60 and a twelve month high of $219.65. The stock has a market capitalization of $12.56 billion, a P/E ratio of 25.02 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its earnings results on Wednesday, August 5th. The company reported $2.83 EPS for the quarter. Coca-Cola Consolidated had a net margin of 7.15% and a negative return on equity of 1,041.59%. The business 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. Investors of record on Friday, July 24th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, July 24th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio is currently 13.26%.

Analyst Upgrades and Downgrades

COKE has been the topic of a number of analyst reports. Wall Street Zen cut Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings reissued 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 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.