Sandro Wealth Management LLC Invests $490,000 in Coca-Cola Consolidated, Inc. $COKE

Sandro Wealth Management LLC bought a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,025 shares of the company’s stock, valued at approximately $490,000.

A number of other institutional investors have also made changes to their positions in the business. State Street Corp lifted its position in Coca-Cola Consolidated by 836.9% during the 2nd quarter. State Street Corp now owns 1,729,065 shares of the company’s stock worth $193,050,000 after buying an additional 1,544,516 shares in the last quarter. Norges Bank acquired a new stake in Coca-Cola Consolidated in the 4th quarter valued at about $222,408,000. AQR Capital Management LLC increased its position in Coca-Cola Consolidated by 1,270.8% in the 2nd quarter. AQR Capital Management LLC now owns 1,185,937 shares of the company’s stock valued at $131,906,000 after acquiring an additional 1,099,421 shares in the last quarter. First Trust Advisors LP increased its position in Coca-Cola Consolidated by 42.1% in the 4th quarter. First Trust Advisors LP now owns 2,037,083 shares of the company’s stock valued at $312,285,000 after acquiring an additional 603,513 shares in the last quarter. Finally, ABN AMRO Bank N.V. bought a new position in shares of Coca-Cola Consolidated in the second quarter worth about $47,608,000. 48.24% of the stock is owned by institutional investors.

Coca-Cola Consolidated Stock Down 0.6%

Shares of COKE opened at $189.11 on Friday. 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 $12.59 billion, a PE ratio of 25.08 and a beta of 0.55. The stock’s fifty day simple moving average is $184.81 and its 200-day simple moving average is $184.46.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share (EPS) for the quarter. The business had revenue of $2.05 billion for the quarter. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%.

Coca-Cola Consolidated Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 7th. Shareholders 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 dividend payout ratio is presently 13.26%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on COKE. Wall Street Zen lowered shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research 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 equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Coca-Cola Consolidated currently has an average 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.