Dearborn Partners LLC Makes New $3.69 Million Investment in Coca-Cola Consolidated, Inc. $COKE

Dearborn Partners LLC acquired a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 48,518 shares of the company’s stock, valued at approximately $3,690,000. Dearborn Partners LLC owned about 0.07% of Coca-Cola Consolidated as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in COKE. Biglari Capital CORP. bought a new stake in Coca-Cola Consolidated during the 2nd quarter valued at $9,752,000. Ascentis Independent Advisors purchased a new stake in Coca-Cola Consolidated during the 1st quarter valued at $31,000. Torren Management LLC bought a new stake in Coca-Cola Consolidated in the 4th quarter worth $29,000. Morse Asset Management Inc bought a new stake in Coca-Cola Consolidated in the 4th quarter worth $31,000. Finally, Ballast Advisors LLC purchased a new position in shares of Coca-Cola Consolidated in the first quarter valued at about $38,000. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Wall Street Analyst Weigh In

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

Coca-Cola Consolidated Stock Up 0.3%

Shares of Coca-Cola Consolidated stock opened at $194.60 on Friday. The company has a market cap of $12.95 billion, a PE ratio of 25.81 and a beta of 0.55. The business has a 50 day moving average of $185.82 and a 200 day moving average of $187.11. Coca-Cola Consolidated, Inc. has a 52 week low of $110.60 and a 52 week high of $219.65.

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

The business also recently announced a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were given 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 dividend payout ratio (DPR) is currently 13.26%.

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.