Foster & Motley Inc. Purchases Shares of 3,239 Coca-Cola Consolidated, Inc. $COKE

Foster & Motley Inc. purchased a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 3,239 shares of the company’s stock, valued at approximately $263,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Strategic Wealth Advisors LLC bought a new position in shares of Coca-Cola Consolidated during the 2nd quarter valued at about $37,000. American Financial & Tax Strategies Inc. bought a new stake in Coca-Cola Consolidated in the 2nd quarter worth approximately $477,000. Main Street Financial Solutions LLC purchased a new stake in Coca-Cola Consolidated in the second quarter worth approximately $4,163,000. Rayburn West Financial Services LLC purchased a new stake in Coca-Cola Consolidated in the second quarter worth approximately $1,370,000. Finally, First National Bank of Omaha purchased a new stake in Coca-Cola Consolidated in the second quarter worth approximately $10,491,000. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note 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 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 Trading Up 0.4%

Shares of NASDAQ:COKE opened at $187.60 on Friday. The stock has a market capitalization of $12.49 billion, a P/E ratio of 24.88 and a beta of 0.55. The stock’s 50-day moving average price is $184.97 and its 200-day moving average price is $185.75. Coca-Cola Consolidated, Inc. has a 12-month low of $110.60 and a 12-month high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE) last released its earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share for the quarter. The company had revenue of $2.05 billion during 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 Dividend Announcement

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

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.