Patron Partners LLC Makes New $294,000 Investment in Coca-Cola Consolidated, Inc. $COKE

Patron Partners LLC acquired a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,617 shares of the company’s stock, valued at approximately $294,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Coca-Cola Consolidated during the 2nd quarter worth approximately $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Coca-Cola Consolidated in the second quarter valued at approximately $1,591,427,000. Deutsche Bank AG acquired a new stake in Coca-Cola Consolidated during the second quarter worth approximately $1,346,125,000. B. Metzler seel. Sohn & Co. AG bought a new position in Coca-Cola Consolidated during the 2nd quarter worth $272,683,000. Finally, Commerzbank Aktiengesellschaft FI bought a new position in Coca-Cola Consolidated during the 2nd quarter worth $147,857,000. Institutional investors and hedge funds own 48.24% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Coca-Cola Consolidated Trading Up 0.8%

NASDAQ COKE opened at $189.10 on Friday. The firm has a market capitalization of $12.59 billion, a price-to-earnings ratio of 25.08 and a beta of 0.55. The firm’s 50 day simple moving average is $185.00 and its 200 day simple moving average is $185.77. Coca-Cola Consolidated, Inc. has a 1 year low of $110.60 and a 1 year high of $219.65.

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

Coca-Cola Consolidated Dividend Announcement

The firm also recently declared 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 of this dividend was Friday, July 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. 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.