Trail Ridge Investment Advisors LLC Invests $324,000 in Coca-Cola Consolidated, Inc. $COKE

Trail Ridge Investment Advisors LLC acquired a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 3,981 shares of the company’s stock, valued at approximately $324,000.

Other large investors also recently modified their holdings of the company. Bessemer Group Inc. boosted its stake in Coca-Cola Consolidated by 19.1% in the first quarter. Bessemer Group Inc. now owns 331 shares of the company’s stock worth $63,000 after buying an additional 53 shares in the last quarter. Beacon Pointe Advisors LLC grew its position 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 valued at $436,000 after acquiring an additional 72 shares during the last quarter. Wealthfront Advisers LLC raised its stake in shares of 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 acquiring an additional 73 shares in the last quarter. UMB Bank n.a. raised its stake in shares of 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 acquiring an additional 78 shares in the last quarter. Finally, Private Advisor Group LLC lifted its holdings in shares of Coca-Cola Consolidated by 2.2% in the 3rd quarter. Private Advisor Group LLC now owns 4,297 shares of the company’s stock worth $503,000 after acquiring an additional 94 shares during the last quarter. 48.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

COKE has been the subject of a number of research reports. Wall Street Zen cut shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research note 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 analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy”.

Coca-Cola Consolidated Price Performance

Shares of COKE stock opened at $192.60 on Tuesday. The business has a 50-day moving average of $185.14 and a 200 day moving average of $186.25. Coca-Cola Consolidated, Inc. has a 1-year low of $110.60 and a 1-year high of $219.65. The stock has a market capitalization of $12.82 billion, a PE ratio of 25.54 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 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 business had revenue of $2.05 billion for the quarter.

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 paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, July 24th. Coca-Cola Consolidated’s payout ratio is presently 13.26%.

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.