Saranac Partners Ltd Invests $597,000 in Coca-Cola Consolidated, Inc. $COKE

Saranac Partners Ltd bought a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 7,352 shares of the company’s stock, valued at approximately $597,000.

A number of other large investors have also recently modified their holdings of the stock. BlackRock Inc. bought a new position in Coca-Cola Consolidated in the second quarter worth about $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Coca-Cola Consolidated during the 2nd quarter valued at approximately $1,591,427,000. GQG Partners LLC bought a new stake in Coca-Cola Consolidated during the 2nd quarter valued at approximately $1,494,498,000. Deutsche Bank AG purchased a new position in shares of Coca-Cola Consolidated during the 2nd quarter worth approximately $1,346,125,000. Finally, Vanguard Group Inc. grew its holdings in shares of Coca-Cola Consolidated by 6.4% during the 4th quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company’s stock worth $871,673,000 after acquiring an additional 341,374 shares during the period. Institutional investors own 48.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on COKE shares. Wall Street Zen cut Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reaffirmed 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, Coca-Cola Consolidated currently has a consensus rating of “Buy”.

Coca-Cola Consolidated Stock Performance

Shares of NASDAQ COKE opened at $189.10 on Monday. The firm’s 50 day moving average price is $185.00 and its 200-day moving average price is $185.99. Coca-Cola Consolidated, Inc. has a 52-week low of $110.60 and a 52-week high of $219.65. The company has a market cap of $12.59 billion, a PE ratio of 25.08 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its earnings results on Wednesday, August 5th. The company reported $2.83 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 business had revenue of $2.05 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Friday, July 24th. Coca-Cola Consolidated’s payout ratio is 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.