Front Street Capital Management Inc. Makes New Investment in Coca-Cola Consolidated, Inc. $COKE

Front Street Capital Management Inc. purchased a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 4,855 shares of the company’s stock, valued at approximately $395,000.

Other large investors also recently bought and sold shares of the company. Peak Asset Management LLC acquired a new stake in shares of Coca-Cola Consolidated in the second quarter worth $911,000. Fiduciary Financial Advisors acquired a new stake in shares of Coca-Cola Consolidated in the second quarter valued at about $621,000. Brandywine Trust Co. purchased a new position in Coca-Cola Consolidated during the second quarter worth approximately $868,000. L2 Asset Management LLC acquired a new position in Coca-Cola Consolidated in the 2nd quarter valued at about $1,704,000. Finally, Vega Investment Solutions acquired a new position in shares of Coca-Cola Consolidated in the 2nd quarter valued at $51,000. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on COKE shares. Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. Wall Street Zen cut shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy”.

Coca-Cola Consolidated Price Performance

NASDAQ COKE opened at $192.60 on Tuesday. The company has a market cap of $12.82 billion, a P/E ratio of 25.54 and a beta of 0.55. The company has a 50-day moving average of $185.14 and a 200-day moving average of $186.25. 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 posted its earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share 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 Announces Dividend

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