Flputnam Investment Management Co. Purchases New Shares in Coca-Cola Consolidated, Inc. $COKE

Flputnam Investment Management Co. purchased a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 540,283 shares of the company’s stock, valued at approximately $43,909,000. Coca-Cola Consolidated accounts for about 0.5% of Flputnam Investment Management Co.’s investment portfolio, making the stock its 28th largest position.

A number of other institutional investors have also added to or reduced their stakes in the company. Bessemer Group Inc. boosted its holdings in shares of Coca-Cola Consolidated by 19.1% during the 1st quarter. Bessemer Group Inc. now owns 331 shares of the company’s stock valued at $63,000 after buying an additional 53 shares in the last quarter. Beacon Pointe Advisors LLC increased its stake in shares of Coca-Cola Consolidated by 2.6% in the 4th quarter. Beacon Pointe Advisors LLC now owns 2,842 shares of the company’s stock worth $436,000 after acquiring an additional 72 shares in the last quarter. Wealthfront Advisers LLC lifted its position in Coca-Cola Consolidated by 4.1% during the 1st quarter. Wealthfront Advisers LLC now owns 1,869 shares of the company’s stock valued at $358,000 after acquiring an additional 73 shares during the period. UMB Bank n.a. boosted its stake in Coca-Cola Consolidated by 8.9% during the fourth quarter. UMB Bank n.a. now owns 951 shares of the company’s stock worth $146,000 after acquiring an additional 78 shares in the last quarter. Finally, Private Advisor Group LLC boosted its stake in Coca-Cola Consolidated by 2.2% during the third quarter. Private Advisor Group LLC now owns 4,297 shares of the company’s stock worth $503,000 after acquiring an additional 94 shares in the last quarter. Institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Performance

Shares of Coca-Cola Consolidated stock opened at $189.11 on Monday. The stock has a market capitalization of $12.59 billion, a PE ratio of 25.08 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 52-week low of $110.60 and a 52-week high of $219.65. The company has a 50-day simple moving average of $184.81 and a two-hundred day simple moving average of $184.70.

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 firm had revenue of $2.05 billion for the quarter.

Coca-Cola Consolidated Announces Dividend

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

Analyst Ratings Changes

COKE has been the subject of a number of analyst 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 lowered shares of 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 data from MarketBeat, the company has an average rating of “Buy”.

Coca-Cola Consolidated Company 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.