Main Street Financial Solutions LLC Buys Shares of 51,223 Coca-Cola Consolidated, Inc. $COKE

Main Street Financial Solutions LLC purchased a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, according to its most recent filing with the SEC. The firm purchased 51,223 shares of the company’s stock, valued at approximately $4,163,000. Main Street Financial Solutions LLC owned 0.08% of Coca-Cola Consolidated at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

COKE has been the topic of several research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. Wall Street Zen downgraded Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy”.

Coca-Cola Consolidated Stock Performance

Shares of NASDAQ:COKE opened at $188.64 on Wednesday. The business’s fifty day moving average price is $185.03 and its two-hundred day moving average price is $185.23. The stock has a market cap of $12.56 billion, a PE ratio of 25.02 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a one year low of $110.60 and a one year high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE) last released 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 company had revenue of $2.05 billion during the quarter.

Coca-Cola Consolidated Announces Dividend

The business also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Friday, July 24th. Coca-Cola Consolidated’s dividend payout ratio (DPR) is currently 13.26%.

Coca-Cola Consolidated Company Profile

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.