Wealthfront Advisers LLC Purchases Shares of 501,901 Coca-Cola Consolidated, Inc. $COKE

Wealthfront Advisers LLC bought a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, Holdings Channel reports. The institutional investor bought 501,901 shares of the company’s stock, valued at approximately $40,789,000.

Several other institutional investors have also added to or reduced their stakes in COKE. Foster & Motley Inc. purchased a new stake in Coca-Cola Consolidated during the 2nd quarter valued at about $263,000. Strategic Wealth Advisors LLC bought a new stake in Coca-Cola Consolidated in the second quarter valued at $37,000. American Financial & Tax Strategies Inc. bought a new stake in shares of Coca-Cola Consolidated during the 2nd quarter valued at about $477,000. Main Street Financial Solutions LLC bought a new stake in Coca-Cola Consolidated during the 2nd quarter valued at approximately $4,163,000. Finally, Rayburn West Financial Services LLC purchased a new stake in Coca-Cola Consolidated in the second quarter worth $1,370,000. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Trading Up 1.3%

Shares of COKE opened at $188.64 on Wednesday. Coca-Cola Consolidated, Inc. has a 12-month low of $110.60 and a 12-month high of $219.65. The business’s 50 day moving average is $185.03 and its 200 day moving average is $185.23. The company has a market capitalization of $12.56 billion, a PE ratio of 25.02 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE) last released its quarterly earnings data 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 company also recently announced a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Friday, July 24th. Coca-Cola Consolidated’s payout ratio is currently 13.26%.

Analyst Ratings Changes

COKE has been the topic of a number of recent research reports. Wall Street Zen cut shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Coca-Cola Consolidated presently has a consensus rating of “Buy”.

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.