Peak Asset Management LLC bought a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 11,215 shares of the company’s stock, valued at approximately $911,000.
Several other institutional investors and hedge funds have also modified their holdings of the business. Quarry LP acquired a new stake in shares of Coca-Cola Consolidated in the 3rd quarter valued at approximately $25,000. Advisory Services Network LLC acquired a new position in shares of Coca-Cola Consolidated during the third quarter worth $25,000. J.Safra Asset Management Corp bought a new position in shares of Coca-Cola Consolidated in the 2nd quarter valued at $26,000. Newbridge Financial Services Group Inc. boosted its holdings in shares of Coca-Cola Consolidated by 900.0% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company’s stock valued at $26,000 after acquiring an additional 207 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its position in Coca-Cola Consolidated by 900.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 250 shares of the company’s stock worth $28,000 after acquiring an additional 225 shares during the last quarter. 48.24% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on COKE shares. 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 reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy”.
Coca-Cola Consolidated Price Performance
Coca-Cola Consolidated stock opened at $192.60 on Tuesday. The stock’s 50 day moving average is $185.14 and its 200 day moving average is $186.25. Coca-Cola Consolidated, Inc. has a one year low of $110.60 and a one year high of $219.65. The firm has a market cap of $12.82 billion, a P/E ratio of 25.54 and a beta of 0.55.
Coca-Cola Consolidated (NASDAQ:COKE – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share (EPS) for the quarter. Coca-Cola Consolidated had a net margin of 7.15% and a negative return on equity of 1,041.59%. The firm had revenue of $2.05 billion during the quarter.
Coca-Cola Consolidated Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Friday, July 24th. Coca-Cola Consolidated’s dividend payout ratio (DPR) 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.
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