D.B. Root & Company LLC Purchases Shares of 14,777 Coca-Cola Consolidated, Inc. $COKE

D.B. Root & Company LLC bought a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 14,777 shares of the company’s stock, valued at approximately $1,201,000.

Other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. boosted its holdings in shares of Coca-Cola Consolidated by 19.1% during the 1st quarter. Bessemer Group Inc. now owns 331 shares of the company’s stock worth $63,000 after buying an additional 53 shares during the period. Beacon Pointe Advisors LLC grew its stake in Coca-Cola Consolidated by 2.6% in the 4th quarter. Beacon Pointe Advisors LLC now owns 2,842 shares of the company’s stock valued at $436,000 after buying an additional 72 shares during the last quarter. Wealthfront Advisers LLC raised its holdings in Coca-Cola Consolidated by 4.1% in the 1st quarter. Wealthfront Advisers LLC now owns 1,869 shares of the company’s stock valued at $358,000 after acquiring an additional 73 shares during the period. UMB Bank n.a. raised its holdings in Coca-Cola Consolidated by 8.9% in the 4th quarter. UMB Bank n.a. now owns 951 shares of the company’s stock valued at $146,000 after acquiring an additional 78 shares during the period. Finally, Private Advisor Group LLC lifted its position in Coca-Cola Consolidated by 2.2% during the third quarter. Private Advisor Group LLC now owns 4,297 shares of the company’s stock worth $503,000 after acquiring an additional 94 shares during the last quarter. 48.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on COKE. Wall Street Zen cut 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, Coca-Cola Consolidated has an average rating of “Buy”.

Coca-Cola Consolidated Price Performance

COKE stock opened at $189.10 on Monday. The firm has a market cap of $12.59 billion, a price-to-earnings ratio of 25.08 and a beta of 0.55. The company’s fifty day simple moving average is $185.00 and its 200 day simple moving average is $185.99. Coca-Cola Consolidated, Inc. has a 12-month low of $110.60 and a 12-month high of $219.65.

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

Coca-Cola Consolidated Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were given a dividend of $0.25 per share. 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 payout ratio is presently 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.