Northcape Wealth Management LLC Purchases New Shares in Coca-Cola Consolidated, Inc. $COKE

Northcape Wealth Management LLC purchased a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 43,486 shares of the company’s stock, valued at approximately $3,534,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Edmond DE Rothschild Holding S.A. bought a new position in Coca-Cola Consolidated during the second quarter valued at $33,657,000. Strathmore Capital Advisors Inc. bought a new stake in shares of Coca-Cola Consolidated in the 2nd quarter worth about $468,000. United Bank bought a new stake in shares of Coca-Cola Consolidated in the 2nd quarter worth about $7,527,000. Uptick Partners LLC purchased a new position in shares of Coca-Cola Consolidated during the 2nd quarter worth about $840,000. Finally, CM Wealth Advisors LLC purchased a new position in shares of Coca-Cola Consolidated during the 2nd quarter worth about $590,000. 48.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on COKE. Wall Street Zen downgraded shares of 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 research note on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Coca-Cola Consolidated has an average rating of “Buy”.

Coca-Cola Consolidated Price Performance

Shares of COKE opened at $186.84 on Thursday. The firm has a market capitalization of $12.44 billion, a price-to-earnings ratio of 24.78 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 1-year low of $110.60 and a 1-year high of $219.65. The company has a 50-day moving average of $184.95 and a 200 day moving average of $185.50.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its earnings results 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 Dividend Announcement

The company 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 was Friday, July 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. Coca-Cola Consolidated’s payout ratio is presently 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.