Foyston Gordon & Payne Inc Invests $7.62 Million in Coca-Cola Consolidated, Inc. $COKE

Foyston Gordon & Payne Inc bought a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, HoldingsChannel reports. The institutional investor bought 93,720 shares of the company’s stock, valued at approximately $7,617,000. Coca-Cola Consolidated makes up approximately 1.6% of Foyston Gordon & Payne Inc’s portfolio, making the stock its 27th largest position.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Coca-Cola Consolidated in the second quarter worth $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Coca-Cola Consolidated in the 2nd quarter valued at about $1,591,427,000. GQG Partners LLC purchased a new position in Coca-Cola Consolidated in the 2nd quarter valued at about $1,494,498,000. Deutsche Bank AG acquired a new stake in shares of Coca-Cola Consolidated during the 2nd quarter worth about $1,346,125,000. Finally, B. Metzler seel. Sohn & Co. AG purchased a new stake in shares of Coca-Cola Consolidated during the second quarter worth about $272,683,000. Institutional investors and hedge funds own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Performance

Coca-Cola Consolidated stock opened at $189.10 on Friday. Coca-Cola Consolidated, Inc. has a 1 year low of $110.60 and a 1 year high of $219.65. The firm has a 50 day moving average price of $185.00 and a 200 day moving average price of $185.77. The company 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 announced its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share for the quarter. Coca-Cola Consolidated had a net margin of 7.15% and a negative return on equity of 1,041.59%. The company had revenue of $2.05 billion for the quarter.

Coca-Cola Consolidated Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were given 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%.

Analyst Upgrades and Downgrades

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