Davis Asset Management L.P. Acquires Shares of 25,000 Coca-Cola Consolidated, Inc. $COKE

Davis Asset Management L.P. acquired a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 25,000 shares of the company’s stock, valued at approximately $2,032,000.

A number of other institutional investors have also made changes to their positions in COKE. Quarry LP acquired a new stake in Coca-Cola Consolidated during the 3rd quarter valued at $25,000. Advisory Services Network LLC acquired a new position in Coca-Cola Consolidated in the 3rd quarter worth $25,000. J.Safra Asset Management Corp acquired a new position in Coca-Cola Consolidated in the 2nd quarter worth $26,000. Newbridge Financial Services Group Inc. boosted its position in Coca-Cola Consolidated by 900.0% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company’s stock valued at $26,000 after buying an additional 207 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in Coca-Cola Consolidated by 900.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 250 shares of the company’s stock valued at $28,000 after buying an additional 225 shares during the last quarter. 48.24% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Consolidated Price Performance

Coca-Cola Consolidated stock opened at $189.10 on Friday. The company has a market cap of $12.59 billion, a PE ratio of 25.08 and a beta of 0.55. The company has a fifty day moving average price of $185.00 and a two-hundred day moving average price of $185.77. 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 issued its earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share for the quarter. Coca-Cola Consolidated had a net margin of 7.15% and a negative return on equity of 1,041.59%. The company had revenue of $2.05 billion for the quarter.

Coca-Cola Consolidated Announces Dividend

The firm 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 was Friday, July 24th. This represents a $1.00 annualized dividend and a yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio is 13.26%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on COKE. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. Wall Street Zen downgraded Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One analyst has rated the stock with a Buy rating, According to MarketBeat, Coca-Cola Consolidated has a consensus 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.