Meeder Advisory Services Inc. Takes $7.63 Million Position in Coca-Cola Consolidated, Inc. $COKE

Meeder Advisory Services Inc. acquired a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 93,938 shares of the company’s stock, valued at approximately $7,634,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. acquired a new position in Coca-Cola Consolidated in the 2nd quarter worth approximately $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Coca-Cola Consolidated in the 2nd quarter valued at $1,591,427,000. Deutsche Bank AG acquired a new stake in shares of Coca-Cola Consolidated in the second quarter worth $1,346,125,000. Vanguard Group Inc. raised its holdings in shares of Coca-Cola Consolidated by 6.4% during the fourth quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company’s stock worth $871,673,000 after purchasing an additional 341,374 shares during the last quarter. Finally, Boston Partners raised its holdings in shares of Coca-Cola Consolidated by 7.8% during the fourth quarter. Boston Partners now owns 2,329,643 shares of the company’s stock worth $357,091,000 after purchasing an additional 169,555 shares during the last quarter. Institutional investors and hedge funds own 48.24% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Coca-Cola Consolidated Price Performance

NASDAQ:COKE opened at $188.64 on Wednesday. The company has a 50 day moving average price of $185.03 and a 200-day moving average price of $185.23. Coca-Cola Consolidated, Inc. has a 1-year low of $110.60 and a 1-year high of $219.65. The firm has a market cap of $12.56 billion, a price-to-earnings ratio of 25.02 and a beta of 0.55.

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 firm had revenue of $2.05 billion for 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 Announces Dividend

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 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 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.