44,986 Shares in Coca-Cola Consolidated, Inc. $COKE Acquired by Field & Main Bank

Field & Main Bank bought a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 44,986 shares of the company’s stock, valued at approximately $3,656,000.

A number of other hedge funds have also modified their holdings of COKE. Vanguard Group Inc. lifted its stake in Coca-Cola Consolidated by 6.4% in the 4th quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company’s stock valued at $871,673,000 after buying an additional 341,374 shares in the last quarter. Primecap Management Co. CA purchased a new position in Coca-Cola Consolidated during the second quarter worth $2,861,000. Caisse de depot et placement du Quebec acquired a new position in shares of Coca-Cola Consolidated in the second quarter worth $291,152,000. Catalyst Investment Management LLC acquired a new position in shares of Coca-Cola Consolidated in the second quarter worth $573,000. Finally, Horizon Investments LLC lifted its position in shares of Coca-Cola Consolidated by 1,655,666.7% in the fourth quarter. Horizon Investments LLC now owns 49,673 shares of the company’s stock valued at $7,602,000 after acquiring an additional 49,670 shares in the last quarter. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Stock Up 2.0%

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

Coca-Cola Consolidated (NASDAQ:COKE) last posted 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 during the quarter. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%.

Coca-Cola Consolidated Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, July 24th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Coca-Cola Consolidated’s payout ratio is presently 13.26%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on COKE. Wall Street Zen lowered Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average 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.