SSI Investment Management LLC Makes New $313,000 Investment in Coca-Cola Consolidated, Inc. $COKE

SSI Investment Management LLC purchased a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, HoldingsChannel reports. The fund purchased 3,853 shares of the company’s stock, valued at approximately $313,000.

A number of other institutional investors have also modified their holdings of COKE. Bessemer Group Inc. boosted its position in Coca-Cola Consolidated by 19.1% during the first quarter. Bessemer Group Inc. now owns 331 shares of the company’s stock worth $63,000 after acquiring an additional 53 shares during the last quarter. Beacon Pointe Advisors LLC raised its holdings in Coca-Cola Consolidated by 2.6% in the 4th quarter. Beacon Pointe Advisors LLC now owns 2,842 shares of the company’s stock valued at $436,000 after acquiring an additional 72 shares during the last quarter. Wealthfront Advisers LLC lifted its stake in shares of Coca-Cola Consolidated by 4.1% during the 1st quarter. Wealthfront Advisers LLC now owns 1,869 shares of the company’s stock worth $358,000 after purchasing an additional 73 shares during the period. UMB Bank n.a. lifted its stake in shares of Coca-Cola Consolidated by 8.9% during the 4th quarter. UMB Bank n.a. now owns 951 shares of the company’s stock worth $146,000 after purchasing an additional 78 shares during the period. Finally, Private Advisor Group LLC boosted its holdings in shares of Coca-Cola Consolidated by 2.2% during the third quarter. Private Advisor Group LLC now owns 4,297 shares of the company’s stock worth $503,000 after purchasing an additional 94 shares during the last quarter. Institutional investors and hedge funds own 48.24% of the company’s stock.

Analysts Set New Price Targets

COKE has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. Wall Street Zen downgraded Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy”.

Coca-Cola Consolidated Stock Down 1.0%

NASDAQ:COKE opened at $186.84 on Thursday. The company has a market cap of $12.44 billion, a P/E ratio of 24.78 and a beta of 0.55. The firm’s 50 day moving average is $184.95 and its two-hundred day moving average is $185.50. Coca-Cola Consolidated, Inc. has a fifty-two week low of $110.60 and a fifty-two week high of $219.65.

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

Coca-Cola Consolidated Announces Dividend

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

Coca-Cola Consolidated 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.