TRB Wealth Management LLC Makes New Investment in Coca-Cola Consolidated, Inc. $COKE

TRB Wealth Management LLC bought a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 20,248 shares of the company’s stock, valued at approximately $1,646,000.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Coca-Cola Consolidated in the 2nd quarter valued at about $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Coca-Cola Consolidated in the second quarter worth about $1,591,427,000. Deutsche Bank AG bought 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 stake in Coca-Cola Consolidated during the second quarter worth approximately $272,683,000. Finally, Korea Investment CORP purchased a new stake in Coca-Cola Consolidated during the second quarter valued at approximately $200,172,000. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Stock Performance

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

Coca-Cola Consolidated (NASDAQ:COKE) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share (EPS) 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 during the quarter.

Coca-Cola Consolidated Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were paid a $0.25 dividend. The ex-dividend date was Friday, July 24th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is presently 13.26%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports 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 downgraded Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock 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.