Kelly Lawrence W & Associates Inc. CA Invests $563,000 in Coca-Cola Consolidated, Inc. $COKE

Kelly Lawrence W & Associates Inc. CA acquired a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 6,931 shares of the company’s stock, valued at approximately $563,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Sone Capital Management LLC bought a new stake in Coca-Cola Consolidated during the second quarter valued at about $13,430,000. Trajan Wealth LLC bought a new position in Coca-Cola Consolidated in the second quarter worth about $8,502,000. Van Hulzen Asset Management LLC bought a new position in Coca-Cola Consolidated in the second quarter worth about $16,491,000. Veratis Advisors Inc. purchased a new stake in shares of Coca-Cola Consolidated during the second quarter valued at about $260,000. Finally, Wood Tarver Financial Group LLC bought a new stake in shares of Coca-Cola Consolidated in the 2nd quarter valued at about $322,000. Institutional investors own 48.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on COKE. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. 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. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

Coca-Cola Consolidated Price Performance

Shares of COKE stock opened at $192.60 on Tuesday. Coca-Cola Consolidated, Inc. has a 1-year low of $110.60 and a 1-year high of $219.65. The stock’s fifty day moving average price is $185.14 and its 200 day moving average price is $186.25. The company has a market cap of $12.82 billion, a price-to-earnings ratio of 25.54 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 (EPS) for the quarter. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%.The company had revenue of $2.05 billion for the quarter.

Coca-Cola Consolidated Dividend Announcement

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

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.