Independent Financial Group LLC Invests $545,000 in Coca-Cola Consolidated, Inc. $COKE

Independent Financial Group LLC acquired a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,843 shares of the company’s stock, valued at approximately $545,000.

Other hedge funds have also made changes to their positions in the company. Quarry LP acquired a new stake in Coca-Cola Consolidated in the third quarter worth approximately $25,000. Advisory Services Network LLC bought a new position in Coca-Cola Consolidated during the 3rd quarter valued at $25,000. Newbridge Financial Services Group Inc. increased its position in shares of Coca-Cola Consolidated by 900.0% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company’s stock valued at $26,000 after purchasing an additional 207 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Coca-Cola Consolidated by 900.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 250 shares of the company’s stock worth $28,000 after buying an additional 225 shares in the last quarter. Finally, Torren Management LLC bought a new stake in shares of Coca-Cola Consolidated in the 4th quarter worth $29,000. Institutional investors and hedge funds own 48.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy”.

Coca-Cola Consolidated Price Performance

COKE stock opened at $184.36 on Thursday. The firm has a market cap of $12.27 billion, a PE ratio of 25.22 and a beta of 0.54. Coca-Cola Consolidated, Inc. has a 12 month low of $110.40 and a 12 month high of $219.65. The firm has a 50 day simple moving average of $180.44 and a 200 day simple moving average of $180.33.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $1.79 earnings per share (EPS) for the quarter. The firm had revenue of $1.71 billion for the quarter. Coca-Cola Consolidated had a net margin of 7.72% and a return on equity of 138.44%.

Coca-Cola Consolidated Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 24th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, July 24th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is currently 13.68%.

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.