Emerald Investment Advisers LLC Purchases New Stake in Coca-Cola Consolidated, Inc. $COKE

Emerald Investment Advisers LLC acquired a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 112,442 shares of the company’s stock, valued at approximately $9,138,000. Emerald Investment Advisers LLC owned 0.17% of Coca-Cola Consolidated as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in COKE. Westpac Banking Corp acquired a new position in Coca-Cola Consolidated during the 2nd quarter valued at about $3,310,000. Iyo Bank Ltd. bought a new stake in shares of Coca-Cola Consolidated during the second quarter worth approximately $7,021,000. TRB Wealth Management LLC bought a new stake in shares of Coca-Cola Consolidated during the second quarter worth approximately $1,646,000. Sumitomo Life Insurance Co. acquired a new position in Coca-Cola Consolidated in the second quarter valued at approximately $3,643,000. Finally, William Blair Investment Management LLC acquired a new position in Coca-Cola Consolidated in the second quarter valued at approximately $484,000. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Coca-Cola Consolidated Trading Up 0.8%

Coca-Cola Consolidated stock opened at $189.10 on Friday. The firm has a market capitalization of $12.59 billion, a P/E ratio of 25.08 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 1 year low of $110.60 and a 1 year high of $219.65. The business has a 50-day moving average of $185.00 and a 200-day moving average of $185.77.

Coca-Cola Consolidated (NASDAQ:COKE) last announced 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 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. Shareholders of record on Friday, July 24th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Friday, July 24th. Coca-Cola Consolidated’s dividend payout ratio is presently 13.26%.

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.