Flossbach Von Storch SE Acquires New Shares in Coca-Cola Consolidated, Inc. $COKE

Flossbach Von Storch SE bought a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 498,232 shares of the company’s stock, valued at approximately $40,491,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake 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 valued at $871,673,000 after acquiring an additional 341,374 shares during the period. Catalyst Investment Management LLC purchased a new stake in Coca-Cola Consolidated in the second quarter valued at approximately $573,000. Horizon Investments LLC lifted its stake in Coca-Cola Consolidated by 1,655,666.7% during the fourth quarter. Horizon Investments LLC now owns 49,673 shares of the company’s stock worth $7,602,000 after purchasing an additional 49,670 shares in the last quarter. Vest Financial LLC lifted its stake in Coca-Cola Consolidated by 60.8% during the fourth quarter. Vest Financial LLC now owns 232,597 shares of the company’s stock worth $35,657,000 after purchasing an additional 87,912 shares in the last quarter. Finally, James Investment Research Inc. boosted its position in shares of Coca-Cola Consolidated by 62.2% during the fourth quarter. James Investment Research Inc. now owns 22,412 shares of the company’s stock worth $3,436,000 after buying an additional 8,593 shares during the period. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on COKE shares. Wall Street Zen lowered Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy”.

Coca-Cola Consolidated Stock Performance

Shares of COKE opened at $186.84 on Thursday. Coca-Cola Consolidated, Inc. has a 1 year low of $110.60 and a 1 year high of $219.65. The stock has a market capitalization of $12.44 billion, a PE ratio of 24.78 and a beta of 0.55. The stock has a 50-day simple moving average of $184.95 and a 200-day simple moving average of $185.50.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Friday, July 24th. Coca-Cola Consolidated’s payout ratio is 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.