11,487 Shares in Coca-Cola Consolidated, Inc. $COKE Acquired by Clearstead Trust LLC

Clearstead Trust LLC purchased a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 11,487 shares of the company’s stock, valued at approximately $934,000.

A number of other hedge funds have also recently added to or reduced their stakes in COKE. Quarry LP bought a new position in shares of Coca-Cola Consolidated in the 3rd quarter worth $25,000. Advisory Services Network LLC acquired a new stake in Coca-Cola Consolidated in the 3rd quarter valued at $25,000. Newbridge Financial Services Group Inc. increased its stake in Coca-Cola Consolidated by 900.0% during 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 in the last quarter. Geneos Wealth Management Inc. increased its stake in Coca-Cola Consolidated by 900.0% during 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 in the last quarter. Finally, Rakuten Securities Inc. raised its holdings in Coca-Cola Consolidated by 1,646.7% during the second quarter. Rakuten Securities Inc. now owns 262 shares of the company’s stock worth $29,000 after buying an additional 247 shares during the last quarter. Institutional investors and hedge funds own 48.24% of the company’s stock.

Wall Street Analysts Forecast Growth

COKE has been the topic of a number of recent research reports. Weiss Ratings reaffirmed 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 research report on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy”.

Coca-Cola Consolidated Stock Performance

NASDAQ:COKE opened at $189.11 on Friday. Coca-Cola Consolidated, Inc. has a 52 week low of $110.60 and a 52 week high of $219.65. The firm has a 50-day moving average price of $184.81 and a two-hundred day moving average price of $184.46. The firm 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 earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share for the quarter. The firm had revenue of $2.05 billion for 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. Investors of record on Friday, July 24th were issued 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 was Friday, July 24th. Coca-Cola Consolidated’s dividend payout ratio (DPR) 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.