GQG Partners LLC Makes New Investment in Coca-Cola Consolidated, Inc. $COKE

GQG Partners LLC acquired a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 18,389,277 shares of the company’s stock, valued at approximately $1,494,498,000. Coca-Cola Consolidated accounts for 2.8% of GQG Partners LLC’s portfolio, making the stock its 11th largest holding. GQG Partners LLC owned approximately 0.28% of Coca-Cola Consolidated at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Quarry LP acquired a new stake in shares of Coca-Cola Consolidated in the third quarter worth $25,000. Advisory Services Network LLC acquired a new position in Coca-Cola Consolidated during the third quarter valued at $25,000. J.Safra Asset Management Corp acquired a new position in Coca-Cola Consolidated during the second quarter valued at $26,000. Newbridge Financial Services Group Inc. boosted its holdings in Coca-Cola Consolidated by 900.0% in the second 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 last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in Coca-Cola Consolidated by 900.0% in the second 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 last quarter. 48.24% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Price Performance

Shares of NASDAQ COKE opened at $189.10 on Friday. The stock has a market capitalization of $12.59 billion, a price-to-earnings ratio of 25.08 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. The firm’s 50 day simple moving average is $185.00 and its 200-day simple moving average is $185.77.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its 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 firm had revenue of $2.05 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date was Friday, July 24th. Coca-Cola Consolidated’s dividend payout ratio (DPR) is currently 13.26%.

Wall Street Analysts Forecast Growth

COKE has been the topic of several analyst reports. Wall Street Zen downgraded Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, Coca-Cola Consolidated has an average 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.