MidFirst Bank Purchases New Stake in Coca-Cola Consolidated, Inc. $COKE

MidFirst Bank purchased a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, HoldingsChannel reports. The institutional investor purchased 48,423 shares of the company’s stock, valued at approximately $3,935,000.

Several other large investors also recently made changes to their positions in the business. Ascentis Independent Advisors purchased a new position in shares of Coca-Cola Consolidated in the 1st quarter valued at $31,000. Torren Management LLC acquired a new position in shares of Coca-Cola Consolidated during the 4th quarter valued at $29,000. Morse Asset Management Inc purchased a new stake in Coca-Cola Consolidated during the 4th quarter worth $31,000. Ballast Advisors LLC purchased a new stake in Coca-Cola Consolidated during the 1st quarter worth $38,000. Finally, Quarry LP acquired a new stake in Coca-Cola Consolidated in the 3rd quarter valued at $25,000. Institutional investors and hedge funds own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Down 1.5%

COKE opened at $186.21 on Tuesday. The firm has a market capitalization of $12.39 billion, a P/E ratio of 24.70 and a beta of 0.55. The firm’s 50 day moving average is $184.96 and its 200-day moving average is $184.96. Coca-Cola Consolidated, Inc. has a 52-week low of $110.60 and a 52-week high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its earnings results on Wednesday, August 5th. The company reported $2.83 EPS for the quarter. The business 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were issued a $0.25 dividend. The ex-dividend date was Friday, July 24th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. Coca-Cola Consolidated’s payout ratio is currently 13.26%.

Analyst Ratings Changes

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

Coca-Cola Consolidated 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.