Westpac Banking Corp Buys New Position in Coca-Cola Consolidated, Inc. $COKE

Westpac Banking Corp purchased a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 40,728 shares of the company’s stock, valued at approximately $3,310,000. Westpac Banking Corp owned 0.06% of Coca-Cola Consolidated as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Ascentis Independent Advisors purchased a new stake in shares of Coca-Cola Consolidated during the first quarter valued at approximately $31,000. Torren Management LLC purchased a new position in shares of Coca-Cola Consolidated in the fourth quarter valued at $29,000. Morse Asset Management Inc purchased a new position in shares of Coca-Cola Consolidated in the fourth quarter valued at $31,000. Ballast Advisors LLC acquired a new stake in Coca-Cola Consolidated during the 1st quarter valued at $38,000. Finally, Quarry LP acquired a new stake in Coca-Cola Consolidated during the 3rd quarter valued at $25,000. Institutional investors and hedge funds own 48.24% of the company’s stock.

Coca-Cola Consolidated Price Performance

Shares of COKE opened at $189.10 on Friday. Coca-Cola Consolidated, Inc. has a 12 month low of $110.60 and a 12 month high of $219.65. The stock has a fifty day moving average price of $185.00 and a 200 day moving average price of $185.77. The company has a market cap of $12.59 billion, a P/E ratio of 25.08 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its earnings results 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 for the quarter.

Coca-Cola Consolidated Announces Dividend

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

Analysts Set New Price Targets

COKE has been the topic of several analyst reports. 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. Weiss Ratings reissued 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, Based on data from MarketBeat, the company presently has an average 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.