IMG Wealth Management Inc. Makes New Investment in Coca-Cola Consolidated, Inc. $COKE

IMG Wealth Management Inc. acquired a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,965 shares of the company’s stock, valued at approximately $241,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bessemer Group Inc. grew its holdings in shares of Coca-Cola Consolidated by 19.1% in the 1st quarter. Bessemer Group Inc. now owns 331 shares of the company’s stock worth $63,000 after acquiring an additional 53 shares during the period. Beacon Pointe Advisors LLC raised its holdings in Coca-Cola Consolidated by 2.6% during the fourth quarter. Beacon Pointe Advisors LLC now owns 2,842 shares of the company’s stock worth $436,000 after purchasing an additional 72 shares during the last quarter. Wealthfront Advisers LLC raised its holdings in Coca-Cola Consolidated by 4.1% during the first quarter. Wealthfront Advisers LLC now owns 1,869 shares of the company’s stock worth $358,000 after purchasing an additional 73 shares during the last quarter. UMB Bank n.a. boosted its position in Coca-Cola Consolidated by 8.9% during the fourth quarter. UMB Bank n.a. now owns 951 shares of the company’s stock worth $146,000 after purchasing an additional 78 shares in the last quarter. Finally, Private Advisor Group LLC boosted 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 purchasing an additional 94 shares in the last quarter. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Consolidated Price Performance

COKE stock opened at $186.21 on Tuesday. The company’s 50 day simple moving average is $184.96 and its 200-day simple moving average is $184.96. Coca-Cola Consolidated, Inc. has a 12 month low of $110.60 and a 12 month high of $219.65. The firm has a market capitalization of $12.39 billion, a PE ratio of 24.70 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 earnings per share (EPS) 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 business also recently declared a quarterly dividend, which was paid on Friday, August 7th. Shareholders 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 yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is presently 13.26%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. 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 reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy”.

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.