MJP Associates Inc. ADV Invests $1.20 Million in Coca-Cola Consolidated, Inc. $COKE

MJP Associates Inc. ADV acquired a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 14,806 shares of the company’s stock, valued at approximately $1,203,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Quarry LP purchased a new stake in shares of Coca-Cola Consolidated during the 3rd quarter worth approximately $25,000. Advisory Services Network LLC purchased a new stake in Coca-Cola Consolidated in the third quarter worth $25,000. J.Safra Asset Management Corp purchased a new position in shares of Coca-Cola Consolidated during the 2nd quarter valued at $26,000. Newbridge Financial Services Group Inc. lifted 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 buying an additional 207 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in shares of 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 acquiring an additional 225 shares during the period. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

COKE has been the topic of several recent research reports. Wall Street Zen downgraded shares of 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 research note on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, Coca-Cola Consolidated currently has an average rating of “Buy”.

Coca-Cola Consolidated Stock Performance

Shares of NASDAQ:COKE opened at $187.60 on Friday. The firm has a market capitalization of $12.49 billion, a PE ratio of 24.88 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 52-week low of $110.60 and a 52-week high of $219.65. The firm has a fifty day moving average of $184.97 and a 200 day moving average of $185.75.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share (EPS) for the quarter. The firm had revenue of $2.05 billion during 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 declared a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were given a dividend of $0.25 per share. 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 dividend payout ratio (DPR) 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.