Foster & Motley Inc. Makes New $263,000 Investment in Coca-Cola Consolidated, Inc. $COKE

Foster & Motley Inc. purchased a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,239 shares of the company’s stock, valued at approximately $263,000.

Several other hedge funds also recently made changes to their positions in COKE. Ascentis Independent Advisors bought a new stake in shares of Coca-Cola Consolidated during the 1st quarter valued at $31,000. Torren Management LLC bought a new position in Coca-Cola Consolidated in the 4th quarter worth about $29,000. Morse Asset Management Inc purchased a new position in Coca-Cola Consolidated during the 4th quarter valued at about $31,000. Ballast Advisors LLC purchased a new position in Coca-Cola Consolidated during the 1st quarter valued at about $38,000. Finally, Quarry LP bought a new stake in shares of Coca-Cola Consolidated during the third quarter valued at about $25,000. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Trading Up 0.4%

Shares of COKE opened at $187.60 on Friday. Coca-Cola Consolidated, Inc. has a 12-month low of $110.60 and a 12-month high of $219.65. The company has a market cap of $12.49 billion, a PE ratio of 24.88 and a beta of 0.55. The stock has a 50-day moving average price of $184.97 and a 200-day moving average price of $185.75.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 earnings per share for the quarter. The company 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 business also recently declared a quarterly dividend, which was paid on Friday, August 7th. Stockholders 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 dividend yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio is presently 13.26%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on COKE. Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. Wall Street Zen cut shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy”.

Coca-Cola Consolidated Company 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.