Polymer Capital Management HK LTD Buys New Holdings in Coca-Cola Consolidated, Inc. $COKE

Polymer Capital Management HK LTD purchased a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, HoldingsChannel reports. The firm purchased 38,132 shares of the company’s stock, valued at approximately $3,099,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Coca-Cola Consolidated in the second quarter valued at approximately $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Coca-Cola Consolidated during the second quarter worth approximately $1,591,427,000. GQG Partners LLC acquired a new position in shares of Coca-Cola Consolidated during the second quarter worth approximately $1,494,498,000. Deutsche Bank AG bought a new position in shares of Coca-Cola Consolidated in the 2nd quarter worth $1,346,125,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Coca-Cola Consolidated by 6.4% in the 4th quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company’s stock worth $871,673,000 after purchasing an additional 341,374 shares in the last quarter. Institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Performance

Shares of 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. Coca-Cola Consolidated, Inc. has a 52 week low of $110.60 and a 52 week high of $219.65. The stock has a 50 day moving average price of $185.00 and a two-hundred day moving average price of $185.99.

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 company 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 business also recently declared a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were given 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 presently 13.26%.

Wall Street Analyst Weigh In

A number of brokerages have commented on COKE. Wall Street Zen lowered shares of 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 note on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock 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.