501,901 Shares in Coca-Cola Consolidated, Inc. $COKE Purchased by Wealthfront Advisers LLC

Wealthfront Advisers LLC bought a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 501,901 shares of the company’s stock, valued at approximately $40,789,000. Wealthfront Advisers LLC owned 0.75% of Coca-Cola Consolidated at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of COKE. BlackRock Inc. acquired a new position in shares of Coca-Cola Consolidated in the 2nd quarter valued at approximately $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Coca-Cola Consolidated in the 2nd quarter valued at $1,591,427,000. Deutsche Bank AG acquired a new stake in shares of Coca-Cola Consolidated during the second quarter valued at about $1,346,125,000. Vanguard Group Inc. boosted its position in Coca-Cola Consolidated by 6.4% during the 4th 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 during the period. Finally, Boston Partners grew its stake in shares of Coca-Cola Consolidated by 7.8% in the fourth quarter. Boston Partners now owns 2,329,643 shares of the company’s stock worth $357,091,000 after purchasing an additional 169,555 shares during the last quarter. Institutional investors and hedge funds own 48.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. Wall Street Zen lowered Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Coca-Cola Consolidated currently has a consensus rating of “Buy”.

Coca-Cola Consolidated Stock Performance

Shares of COKE stock opened at $188.64 on Wednesday. The company has a market capitalization of $12.56 billion, a price-to-earnings ratio of 25.02 and a beta of 0.55. The company has a 50-day simple moving average of $185.03 and a two-hundred day simple moving average of $185.23. Coca-Cola Consolidated, Inc. has a 52-week low of $110.60 and a 52-week 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. The company 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were paid a $0.25 dividend. 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 payout ratio is currently 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.