Shepherd Financial Partners LLC Buys Shares of 53,373 Coca-Cola Consolidated, Inc. $COKE

Shepherd Financial Partners LLC purchased a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, Holdings Channel.com reports. The fund purchased 53,373 shares of the company’s stock, valued at approximately $4,338,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP bought a new stake in Coca-Cola Consolidated in the 3rd quarter valued at about $25,000. Advisory Services Network LLC bought a new position in Coca-Cola Consolidated during the third quarter worth about $25,000. J.Safra Asset Management Corp purchased a new position in shares of Coca-Cola Consolidated in the second quarter worth about $26,000. Newbridge Financial Services Group Inc. increased its stake in shares of Coca-Cola Consolidated by 900.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company’s stock worth $26,000 after purchasing an additional 207 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of Coca-Cola Consolidated by 900.0% in the second quarter. Geneos Wealth Management Inc. now owns 250 shares of the company’s stock valued at $28,000 after purchasing an additional 225 shares during the period. Institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Down 1.0%

Shares of NASDAQ COKE opened at $186.84 on Thursday. The company has a market cap of $12.44 billion, a P/E ratio of 24.78 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 52 week low of $110.60 and a 52 week high of $219.65. The business has a 50-day simple moving average of $184.95 and a two-hundred day simple moving average of $185.50.

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

Coca-Cola Consolidated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, July 24th. This represents a $1.00 annualized dividend and a yield of 0.5%. Coca-Cola Consolidated’s payout ratio is currently 13.26%.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. Wall Street Zen lowered shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Coca-Cola Consolidated 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.