Western Wealth Management LLC Takes $1.78 Million Position in Coca-Cola Consolidated, Inc. $COKE

Western Wealth Management LLC bought a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, HoldingsChannel reports. The firm bought 21,894 shares of the company’s stock, valued at approximately $1,779,000.

Several other large investors have also recently modified their holdings of COKE. Biglari Capital CORP. bought a new stake in Coca-Cola Consolidated in the second quarter worth $9,752,000. Ascentis Independent Advisors bought a new position in Coca-Cola Consolidated during the first quarter valued at $31,000. Torren Management LLC bought a new position in Coca-Cola Consolidated during the fourth quarter valued at $29,000. Morse Asset Management Inc purchased a new stake in shares of Coca-Cola Consolidated in the fourth quarter valued at $31,000. Finally, Ballast Advisors LLC bought a new stake in shares of Coca-Cola Consolidated in the 1st quarter worth about $38,000. Institutional investors own 48.24% of the company’s stock.

Analysts Set New Price Targets

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

Coca-Cola Consolidated Trading Up 2.0%

NASDAQ COKE opened at $196.53 on Wednesday. The company’s 50-day moving average price is $185.35 and its 200-day moving average price is $186.58. The stock has a market cap of $13.08 billion, a PE ratio of 26.07 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 12 month low of $110.60 and a 12 month high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 earnings per share (EPS) for the quarter. The company had revenue of $2.05 billion during 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 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 issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Friday, July 24th. Coca-Cola Consolidated’s dividend payout ratio is currently 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.