Greenspring Advisors LLC Invests $1.43 Million in Coca-Cola Consolidated, Inc. $COKE

Greenspring Advisors LLC purchased a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,533 shares of the company’s stock, valued at approximately $1,425,000.

Other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new position in Coca-Cola Consolidated in the 2nd quarter valued at about $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Coca-Cola Consolidated during the second quarter worth about $1,591,427,000. Deutsche Bank AG bought a new stake in Coca-Cola Consolidated during the second quarter worth approximately $1,346,125,000. Vanguard Group Inc. boosted its holdings in Coca-Cola Consolidated by 6.4% during the fourth quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company’s stock worth $871,673,000 after buying an additional 341,374 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. AG acquired a new position in Coca-Cola Consolidated in the second quarter worth approximately $272,683,000. Institutional investors and hedge funds own 48.24% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Coca-Cola Consolidated Stock Up 0.4%

COKE stock opened at $187.60 on Friday. The company has a 50 day moving average of $184.97 and a two-hundred day moving average of $185.75. The company has a market cap of $12.49 billion, a price-to-earnings ratio of 24.88 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.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 EPS for the quarter. Coca-Cola Consolidated had a net margin of 7.15% and a negative return on equity of 1,041.59%. The business had revenue of $2.05 billion for 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 paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, July 24th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Coca-Cola Consolidated’s payout ratio is presently 13.26%.

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.