Castlekeep Investment Advisors LLC Buys Shares of 13,292 Coca-Cola Consolidated, Inc. $COKE

Castlekeep Investment Advisors LLC acquired a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 13,292 shares of the company’s stock, valued at approximately $1,080,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Quarry LP acquired a new position in shares of Coca-Cola Consolidated in the third quarter worth $25,000. Advisory Services Network LLC acquired a new stake in shares of Coca-Cola Consolidated during the third quarter valued at $25,000. J.Safra Asset Management Corp purchased a new stake in Coca-Cola Consolidated during the 2nd quarter worth about $26,000. Newbridge Financial Services Group Inc. raised its stake in Coca-Cola Consolidated by 900.0% in 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 last quarter. Finally, Geneos Wealth Management Inc. raised its stake in Coca-Cola Consolidated by 900.0% in 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 last quarter. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on COKE shares. Wall Street Zen cut 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 report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Coca-Cola Consolidated presently has an average rating of “Buy”.

Coca-Cola Consolidated Stock Up 2.0%

Shares of Coca-Cola Consolidated stock opened at $196.53 on Wednesday. Coca-Cola Consolidated, Inc. has a fifty-two week low of $110.60 and a fifty-two week high of $219.65. The business’s fifty day moving average is $185.35 and its two-hundred day moving average is $186.58. The firm has a market cap of $13.08 billion, a PE ratio of 26.07 and a beta of 0.55.

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

Coca-Cola Consolidated Announces Dividend

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

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.