Portfolio Design Labs LLC Invests $2.68 Million in Coca-Cola Consolidated, Inc. $COKE

Portfolio Design Labs 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 32,965 shares of the company’s stock, valued at approximately $2,679,000.

Other institutional investors have also made changes to their positions in the company. Reliant Investment Partners LLC acquired a new position in Coca-Cola Consolidated during the 2nd quarter worth about $332,000. Ninepoint Partners LP bought a new stake in Coca-Cola Consolidated during the 2nd quarter worth about $353,000. SGL Investment Advisors Inc. acquired a new stake in Coca-Cola Consolidated in the 2nd quarter valued at about $754,000. Advisors Capital Management LLC acquired a new stake in Coca-Cola Consolidated in the 2nd quarter valued at about $67,055,000. Finally, Cannon Wealth Management Services LLC bought a new position in shares of Coca-Cola Consolidated in the second quarter worth about $640,000. 48.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on COKE shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. Wall Street Zen lowered shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy”.

Coca-Cola Consolidated Stock Performance

Shares of COKE stock opened at $187.60 on Friday. The firm’s 50 day moving average price is $184.97 and its two-hundred day moving average price is $185.75. Coca-Cola Consolidated, Inc. has a 52-week low of $110.60 and a 52-week high of $219.65. The stock has a market cap of $12.49 billion, a PE ratio of 24.88 and a beta of 0.55.

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

The company also recently announced a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were issued a $0.25 dividend. The ex-dividend date was Friday, July 24th. This represents a $1.00 annualized dividend and a yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio (DPR) 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.