Paragon Financial Partners Inc. Makes New Investment in Coca-Cola Consolidated, Inc. $COKE

Paragon Financial Partners Inc. acquired a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 4,001 shares of the company’s stock, valued at approximately $350,000.

Other institutional investors have also modified their holdings of the company. Performance Wealth Partners LLC purchased a new stake in shares of Coca-Cola Consolidated during the second quarter worth about $3,426,000. Deutsche Bank AG acquired a new position in shares of Coca-Cola Consolidated during the 2nd quarter worth about $1,346,125,000. Perigon Wealth Management LLC purchased a new position in Coca-Cola Consolidated in the 2nd quarter valued at about $11,196,000. Commerzbank Aktiengesellschaft FI purchased a new position in Coca-Cola Consolidated in the 2nd quarter valued at about $147,857,000. Finally, Phillips Wealth Planners LLC acquired a new stake in Coca-Cola Consolidated in the 2nd quarter worth about $1,219,000. Institutional investors and hedge funds own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Down 1.5%

Shares of NASDAQ COKE opened at $186.21 on Tuesday. The firm has a 50-day simple moving average of $184.96 and a 200-day simple moving average of $184.96. The stock has a market capitalization of $12.39 billion, a price-to-earnings 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 posted its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share 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. Shareholders of record on Friday, July 24th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Friday, July 24th. Coca-Cola Consolidated’s dividend payout ratio (DPR) is 13.26%.

Analysts Set New Price Targets

Several equities research analysts have commented on COKE shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note 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 investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock 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.