Focused Alpha LLC Takes Position in Coca-Cola Consolidated, Inc. $COKE

Focused Alpha LLC purchased a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,950 shares of the company’s stock, valued at approximately $240,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in Coca-Cola Consolidated during the 2nd quarter worth about $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Coca-Cola Consolidated in the second quarter worth about $1,591,427,000. Deutsche Bank AG bought a new position in shares of Coca-Cola Consolidated in the second quarter worth about $1,346,125,000. Commerzbank Aktiengesellschaft FI acquired a new position in shares of Coca-Cola Consolidated during the second quarter worth approximately $147,857,000. Finally, State Street Corp lifted its holdings in Coca-Cola Consolidated by 836.9% during the 2nd quarter. State Street Corp now owns 1,729,065 shares of the company’s stock worth $193,050,000 after buying an additional 1,544,516 shares in the last quarter. Institutional investors and hedge funds own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Performance

Shares of NASDAQ:COKE opened at $186.21 on Tuesday. The company has a 50 day moving average price of $184.96 and a two-hundred day moving average price of $184.96. The company has a market capitalization of $12.39 billion, a PE ratio of 24.70 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.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share (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 declared 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 dividend on an annualized basis and a dividend yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is currently 13.26%.

Analyst Upgrades and Downgrades

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