TCM Advisors LLC Makes New Investment in Coca-Cola Consolidated, Inc. $COKE

TCM Advisors LLC purchased a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 16,283 shares of the company’s stock, valued at approximately $1,323,000. Coca-Cola Consolidated comprises approximately 0.1% of TCM Advisors LLC’s holdings, making the stock its 12th largest position.

A number of other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in Coca-Cola Consolidated in the 2nd quarter valued at $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Coca-Cola Consolidated in the second quarter worth $1,591,427,000. GQG Partners LLC acquired a new stake in shares of Coca-Cola Consolidated during the 2nd quarter valued at approximately $1,494,498,000. Deutsche Bank AG acquired a new stake in shares of Coca-Cola Consolidated during the 2nd quarter worth approximately $1,346,125,000. Finally, Vanguard Group Inc. increased its holdings in shares of Coca-Cola Consolidated by 6.4% in the 4th quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company’s stock worth $871,673,000 after acquiring an additional 341,374 shares during the period. 48.24% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Consolidated Price Performance

Shares of NASDAQ COKE opened at $189.10 on Monday. Coca-Cola Consolidated, Inc. has a one year low of $110.60 and a one year high of $219.65. The business’s 50-day moving average price is $185.00 and its two-hundred day moving average price is $185.99. The company has a market capitalization of $12.59 billion, a P/E ratio of 25.08 and a beta of 0.55.

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

Coca-Cola Consolidated Dividend Announcement

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 $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, July 24th. Coca-Cola Consolidated’s payout ratio is presently 13.26%.

Analysts Set New Price Targets

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