Cibc World Market Inc. Takes Position in Coca-Cola Consolidated, Inc. $COKE

Cibc World Market Inc. purchased a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,715,763 shares of the company’s stock, valued at approximately $139,440,000. Cibc World Market Inc. owned approximately 2.58% of Coca-Cola Consolidated as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Quarry LP acquired a new stake 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 about $25,000. J.Safra Asset Management Corp acquired a new position in Coca-Cola Consolidated in the 2nd quarter worth $26,000. Newbridge Financial Services Group Inc. increased its holdings in Coca-Cola Consolidated by 900.0% during 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 during the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in shares of Coca-Cola Consolidated by 900.0% in the second 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. Institutional investors and hedge funds own 48.24% of the company’s stock.

Coca-Cola Consolidated Price Performance

NASDAQ:COKE opened at $189.10 on Monday. The firm has a market capitalization of $12.59 billion, a P/E ratio of 25.08 and a beta of 0.55. The business has a 50 day simple moving average of $185.00 and a 200 day simple moving average of $185.99. 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 issued its earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share for the quarter. The firm had revenue of $2.05 billion for the quarter. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%.

Coca-Cola Consolidated Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wall Street Zen lowered Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Coca-Cola Consolidated currently has an average rating of “Buy”.

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.