Dearborn Partners LLC Invests $3.69 Million in Coca-Cola Consolidated, Inc. $COKE

Dearborn Partners LLC bought a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 48,518 shares of the company’s stock, valued at approximately $3,690,000.

Several other hedge funds also recently made changes to their positions in the company. Biglari Capital CORP. purchased a new stake in Coca-Cola Consolidated in the second quarter worth $9,752,000. Ascentis Independent Advisors purchased a new position in Coca-Cola Consolidated during the first quarter valued at $31,000. Torren Management LLC purchased a new position in Coca-Cola Consolidated during the fourth quarter valued at $29,000. Morse Asset Management Inc bought a new stake in shares of Coca-Cola Consolidated during the 4th quarter valued at $31,000. Finally, Ballast Advisors LLC bought a new stake in shares of Coca-Cola Consolidated during the 1st quarter valued at $38,000. 48.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on COKE. 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 report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy”.

Coca-Cola Consolidated Stock Up 0.3%

COKE stock opened at $194.60 on Friday. The business has a 50 day moving average of $185.82 and a 200 day moving average of $187.11. The firm has a market cap of $12.95 billion, a PE ratio of 25.81 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a twelve month low of $110.60 and a twelve month high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE) last released its earnings results on Wednesday, August 5th. The company reported $2.83 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 business 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. Investors 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 payout ratio is presently 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.