Evolve Private Wealth LLC Makes New Investment in Coca-Cola Consolidated, Inc. $COKE

Evolve Private Wealth LLC bought a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 4,344 shares of the company’s stock, valued at approximately $358,000.

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

Coca-Cola Consolidated Stock Performance

COKE stock opened at $196.53 on Wednesday. The firm has a 50 day simple moving average of $185.35 and a 200 day simple moving average of $186.58. 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 cap of $13.08 billion, a P/E ratio of 26.07 and a beta of 0.55.

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

Coca-Cola Consolidated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 7th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio is 13.26%.

Analysts Set New Price Targets

Several 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 report on Saturday, August 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, Coca-Cola Consolidated presently 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.