Kentucky Farm Bureau Mutual Insurance Co Takes $2.44 Million Position in Coca-Cola Consolidated, Inc. $COKE

Kentucky Farm Bureau Mutual Insurance Co bought 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 bought 30,000 shares of the company’s stock, valued at approximately $2,438,000.

Other large investors have also made changes to their positions in the company. Quarry LP bought a new position in Coca-Cola Consolidated in the third quarter valued at about $25,000. Advisory Services Network LLC bought a new stake in Coca-Cola Consolidated during the 3rd quarter worth about $25,000. J.Safra Asset Management Corp bought a new stake in Coca-Cola Consolidated during the 2nd quarter worth about $26,000. Newbridge Financial Services Group Inc. lifted its position in Coca-Cola Consolidated by 900.0% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company’s stock valued at $26,000 after purchasing an additional 207 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in Coca-Cola Consolidated by 900.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 250 shares of the company’s stock valued at $28,000 after purchasing an additional 225 shares during the period. Institutional investors and hedge funds own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Down 1.0%

Shares of Coca-Cola Consolidated stock opened at $186.84 on Thursday. The business has a fifty day simple moving average of $184.95 and a 200 day simple moving average of $185.50. The stock has a market cap of $12.44 billion, a PE ratio of 24.78 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 12 month low of $110.60 and a 12 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 for the quarter. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%.The firm had revenue of $2.05 billion for the quarter.

Coca-Cola Consolidated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were paid a $0.25 dividend. 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 dividend payout ratio is 13.26%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on COKE shares. Wall Street Zen lowered shares of 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, Based on data from MarketBeat, the company has a consensus 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.