Focused Alpha LLC Purchases Shares of 2,950 Coca-Cola Consolidated, Inc. $COKE

Focused Alpha LLC purchased a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,950 shares of the company’s stock, valued at approximately $240,000.

Other large investors also recently made changes to their positions in the company. Quarry LP acquired a new stake in shares of Coca-Cola Consolidated during the third quarter worth $25,000. Advisory Services Network LLC acquired a new position in Coca-Cola Consolidated in the 3rd quarter worth $25,000. J.Safra Asset Management Corp acquired a new position in Coca-Cola Consolidated in the 2nd quarter worth $26,000. Newbridge Financial Services Group Inc. increased its holdings in Coca-Cola Consolidated by 900.0% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company’s stock worth $26,000 after purchasing an additional 207 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in Coca-Cola Consolidated by 900.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 250 shares of the company’s stock worth $28,000 after purchasing an additional 225 shares in the last quarter. Institutional investors own 48.24% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on COKE. Wall Street Zen lowered Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Coca-Cola Consolidated has an average rating of “Buy”.

Coca-Cola Consolidated Stock Performance

Shares of NASDAQ COKE opened at $186.21 on Tuesday. The stock has a 50 day moving average price of $184.96 and a 200 day moving average price of $184.96. Coca-Cola Consolidated, Inc. has a 52 week low of $110.60 and a 52 week high of $219.65. The stock has a market capitalization of $12.39 billion, a PE ratio of 24.70 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share for the quarter. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%.The firm had revenue of $2.05 billion for the quarter.

Coca-Cola Consolidated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were paid a $0.25 dividend. The ex-dividend date of this dividend 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 (DPR) is currently 13.26%.

About Coca-Cola Consolidated

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.