Rayburn West Financial Services LLC Purchases New Shares in Coca-Cola Consolidated, Inc. $COKE

Rayburn West Financial Services LLC acquired a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the 2nd quarter, HoldingsChannel reports. The firm acquired 16,860 shares of the company’s stock, valued at approximately $1,370,000.

Other hedge funds have also recently bought and sold shares of the company. First National Bank of Omaha bought a new position in shares of Coca-Cola Consolidated during the second quarter valued at about $10,491,000. Alamar Capital Management LLC bought a new stake in Coca-Cola Consolidated in the 2nd quarter worth about $409,000. HS Management Partners LLC bought a new stake in Coca-Cola Consolidated in the 2nd quarter worth about $13,188,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Coca-Cola Consolidated in the 2nd quarter valued at about $74,000. Finally, M. Kulyk & Associates LLC purchased a new stake in Coca-Cola Consolidated in the 2nd quarter valued at about $2,135,000. 48.24% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Price Performance

Coca-Cola Consolidated stock opened at $188.64 on Wednesday. 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 capitalization of $12.56 billion, a P/E ratio of 25.02 and a beta of 0.55. The business has a fifty day moving average price of $185.03 and a 200-day moving average price of $185.23.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 earnings per share (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 company had revenue of $2.05 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis 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 currently 13.26%.

Wall Street Analysts Forecast Growth

COKE has been the topic of a number of research analyst reports. Wall Street Zen downgraded Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research note 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 MarketBeat.com, the company currently has a consensus rating of “Buy”.

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.