Madison Asset Management LLC Buys New Stake in Coca-Cola Consolidated, Inc. $COKE

Madison Asset Management LLC bought a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 30,702 shares of the company’s stock, valued at approximately $2,495,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of COKE. Csenge Advisory Group bought a new stake in Coca-Cola Consolidated during the second quarter valued at about $5,073,000. AssuredPartners Investment Advisors LLC acquired a new stake in shares of Coca-Cola Consolidated in the second quarter valued at about $689,000. Shepherd Financial Partners LLC bought a new position in shares of Coca-Cola Consolidated in the second quarter worth about $4,338,000. Johnson Financial Group Inc. bought a new position in shares of Coca-Cola Consolidated in the second quarter worth about $1,218,000. Finally, one8zero8 LLC acquired a new position in shares of Coca-Cola Consolidated during the 2nd quarter worth about $982,000. Institutional investors and hedge funds own 48.24% of the company’s stock.

Coca-Cola Consolidated Price Performance

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

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 earnings per share (EPS) 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 company also recently declared 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. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date was Friday, July 24th. Coca-Cola Consolidated’s payout ratio is currently 13.26%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wall Street Zen downgraded Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, Coca-Cola Consolidated has an average 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.