Castleark Management LLC Purchases Shares of 3,397 Coca-Cola Consolidated, Inc. $COKE

Castleark Management LLC purchased a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 3,397 shares of the company’s stock, valued at approximately $276,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP acquired a new position in shares of Coca-Cola Consolidated during the third quarter worth $25,000. Advisory Services Network LLC purchased a new stake in shares of Coca-Cola Consolidated during the 3rd quarter valued at $25,000. J.Safra Asset Management Corp acquired a new stake in shares of Coca-Cola Consolidated in the 2nd quarter worth $26,000. Newbridge Financial Services Group Inc. boosted its position in shares of Coca-Cola Consolidated by 900.0% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company’s stock worth $26,000 after purchasing an additional 207 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its stake 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 buying an additional 225 shares during the last quarter. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Coca-Cola Consolidated Stock Down 1.3%

Shares of NASDAQ:COKE opened at $194.02 on Thursday. Coca-Cola Consolidated, Inc. has a 52-week low of $110.60 and a 52-week high of $219.65. The stock has a market cap of $12.91 billion, a price-to-earnings ratio of 25.73 and a beta of 0.55. The business has a 50-day moving average price of $185.56 and a 200-day moving average price of $186.85.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its earnings results on Wednesday, August 5th. The company reported $2.83 EPS for the quarter. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%.The firm had revenue of $2.05 billion for the quarter.

Coca-Cola Consolidated Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Stockholders 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 of this dividend was Friday, July 24th. Coca-Cola Consolidated’s dividend payout ratio is 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.