49 Wealth Management LLC Makes New $413,000 Investment in Coca-Cola Consolidated, Inc. $COKE

49 Wealth Management LLC acquired a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, Holdings Channel reports. The institutional investor acquired 5,088 shares of the company’s stock, valued at approximately $413,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of COKE. Quarry LP acquired a new position in Coca-Cola Consolidated in the 3rd quarter worth approximately $25,000. Advisory Services Network LLC acquired a new stake in shares of Coca-Cola Consolidated in the third quarter worth $25,000. J.Safra Asset Management Corp acquired a new stake in shares of Coca-Cola Consolidated in the second quarter worth $26,000. Newbridge Financial Services Group Inc. raised its holdings in shares of Coca-Cola Consolidated by 900.0% during the second quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company’s stock worth $26,000 after purchasing an additional 207 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in Coca-Cola Consolidated by 900.0% in the second quarter. Geneos Wealth Management Inc. now owns 250 shares of the company’s stock valued at $28,000 after purchasing an additional 225 shares during the last quarter. Institutional investors and hedge funds own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Up 2.0%

COKE opened at $198.49 on Friday. The firm’s fifty day simple moving average is $186.16 and its two-hundred day simple moving average is $187.19. Coca-Cola Consolidated, Inc. has a 52-week low of $110.60 and a 52-week high of $219.65. The company has a market cap of $13.21 billion, a price-to-earnings ratio of 26.32 and a beta of 0.55.

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 net margin of 7.15% and a negative return on equity of 1,041.59%. The firm had revenue of $2.05 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Friday, July 24th. Coca-Cola Consolidated’s dividend payout ratio (DPR) is 13.26%.

Wall Street Analysts Forecast Growth

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