Haverford Trust Co Invests $98.55 Million in Coca-Cola Consolidated, Inc. $COKE

Haverford Trust Co acquired a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, HoldingsChannel.com reports. The firm acquired 1,212,623 shares of the company’s stock, valued at approximately $98,550,000.

Other hedge funds also recently made changes to their positions in the company. Clear Harbor Asset Management LLC acquired a new stake in Coca-Cola Consolidated during the second quarter worth about $1,197,000. Davis Asset Management L.P. purchased a new stake in shares of Coca-Cola Consolidated during the 2nd quarter worth about $2,032,000. First Nebraska Trust Co purchased a new stake in shares of Coca-Cola Consolidated during the 2nd quarter worth about $6,061,000. Bank of Nova Scotia acquired a new stake in Coca-Cola Consolidated during the 2nd quarter worth approximately $66,778,000. Finally, Kendall Capital Management acquired a new stake in Coca-Cola Consolidated during the 2nd quarter worth approximately $351,000. Institutional investors and hedge funds own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Performance

COKE stock opened at $189.10 on Friday. The firm has a market cap of $12.59 billion, a P/E ratio of 25.08 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 1 year low of $110.60 and a 1 year high of $219.65. The stock has a 50-day simple moving average of $185.00 and a 200-day simple moving average of $185.77.

Coca-Cola Consolidated (NASDAQ:COKE) last released its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 EPS 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 company also recently announced a quarterly dividend, which was paid on Friday, August 7th. Stockholders 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 annualized dividend and a dividend yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio is 13.26%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on COKE shares. Wall Street Zen cut shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Coca-Cola Consolidated presently has a consensus rating of “Buy”.

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.