Cullen Capital Management LLC Makes New Investment in Coca-Cola Consolidated, Inc. $COKE

Cullen Capital Management LLC acquired a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 8,879 shares of the company’s stock, valued at approximately $722,000.

Other hedge funds also recently made changes to their positions in the company. Quarry LP bought a new stake in Coca-Cola Consolidated during the 3rd quarter worth approximately $25,000. Advisory Services Network LLC purchased a new position in Coca-Cola Consolidated during the third quarter valued at approximately $25,000. J.Safra Asset Management Corp bought a new position in shares of Coca-Cola Consolidated in the second quarter worth approximately $26,000. Newbridge Financial Services Group Inc. boosted its position in shares of Coca-Cola Consolidated by 900.0% in the second 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 period. 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 purchasing an additional 225 shares in the last quarter. 48.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Coca-Cola Consolidated Price Performance

Shares of COKE opened at $192.60 on Tuesday. The firm has a market cap of $12.82 billion, a P/E ratio of 25.54 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 1 year low of $110.60 and a 1 year high of $219.65. The company has a 50 day simple moving average of $185.14 and a two-hundred day simple moving average of $186.25.

Coca-Cola Consolidated (NASDAQ:COKE) last released its earnings results on Wednesday, August 5th. The company reported $2.83 EPS for the quarter. Coca-Cola Consolidated had a net margin of 7.15% and a negative return on equity of 1,041.59%. The firm had revenue of $2.05 billion for the quarter.

Coca-Cola Consolidated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were paid 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 payout ratio is presently 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.