Clearstead Trust LLC Buys Shares of 11,487 Coca-Cola Consolidated, Inc. $COKE

Clearstead Trust LLC purchased a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 11,487 shares of the company’s stock, valued at approximately $934,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of COKE. Quarry LP bought a new stake in shares of Coca-Cola Consolidated in the 3rd quarter valued at $25,000. Advisory Services Network LLC bought a new position in Coca-Cola Consolidated during the third quarter worth $25,000. Newbridge Financial Services Group Inc. raised its stake in Coca-Cola Consolidated by 900.0% during the second quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company’s stock worth $26,000 after buying an additional 207 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in Coca-Cola Consolidated by 900.0% in the second 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 period. Finally, Torren Management LLC acquired a new position in Coca-Cola Consolidated in the fourth quarter valued at $29,000. Institutional investors and hedge funds own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Down 0.6%

NASDAQ:COKE opened at $189.11 on Friday. The company has a fifty day moving average of $184.81 and a 200-day moving average of $184.46. The firm has a market capitalization of $12.59 billion, a P/E ratio of 25.08 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a twelve month low of $110.60 and a twelve month high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE) last released its earnings results 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 business also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, July 24th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio is currently 13.26%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. Wall Street Zen downgraded Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy”.

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.