Legal & General Group Plc Acquires New Shares in Coca-Cola Consolidated, Inc. $COKE

Legal & General Group Plc acquired a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 24,341,909 shares of the company’s stock, valued at approximately $1,978,267,000. Legal & General Group Plc owned about 0.37% of Coca-Cola Consolidated at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP acquired a new stake in shares of Coca-Cola Consolidated during the third quarter valued at about $25,000. Advisory Services Network LLC bought a new stake in shares of Coca-Cola Consolidated during the third quarter worth about $25,000. J.Safra Asset Management Corp acquired a new position in shares of Coca-Cola Consolidated in the second quarter valued at approximately $26,000. Newbridge Financial Services Group Inc. increased its stake in shares of Coca-Cola Consolidated by 900.0% in the second 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 period. Finally, Geneos Wealth Management Inc. raised its holdings in Coca-Cola Consolidated by 900.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 250 shares of the company’s stock valued at $28,000 after buying an additional 225 shares during the last quarter. Institutional investors and hedge funds own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Up 1.9%

Shares of NASDAQ COKE opened at $192.60 on Tuesday. The company has a market capitalization of $12.82 billion, a PE ratio of 25.54 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a twelve month low of $110.60 and a twelve month high of $219.65. The firm has a fifty day simple moving average of $185.14 and a 200 day simple moving average of $186.25.

Coca-Cola Consolidated (NASDAQ:COKE) last issued 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 during the quarter.

Coca-Cola Consolidated Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were given a dividend of $0.25 per share. The ex-dividend date 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 is presently 13.26%.

Wall Street Analysts Forecast Growth

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

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.