Martin & Co. Inc. TN Purchases Shares of 19,374 Coca-Cola Consolidated, Inc. $COKE

Martin & Co. Inc. TN acquired a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,374 shares of the company’s stock, valued at approximately $1,575,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Coca-Cola Consolidated in the 2nd quarter valued at about $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Coca-Cola Consolidated in the 2nd quarter valued at about $1,591,427,000. Deutsche Bank AG acquired a new position in Coca-Cola Consolidated during the 2nd quarter worth approximately $1,346,125,000. B. Metzler seel. Sohn & Co. AG acquired a new position in Coca-Cola Consolidated during the 2nd quarter worth approximately $272,683,000. Finally, Korea Investment CORP bought a new position in Coca-Cola Consolidated in the second quarter worth approximately $200,172,000. Institutional investors own 48.24% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on COKE. Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. Wall Street Zen lowered Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy”.

Coca-Cola Consolidated Trading Up 0.8%

Coca-Cola Consolidated stock opened at $189.10 on Friday. The firm has a market capitalization of $12.59 billion, a price-to-earnings ratio of 25.08 and a beta of 0.55. The firm’s fifty day moving average price is $185.00 and its two-hundred day moving average price is $185.77. Coca-Cola Consolidated, Inc. has a 1-year low of $110.60 and a 1-year high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE) last posted 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 company had revenue of $2.05 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

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 dividend of $0.25 per share. The ex-dividend date was Friday, July 24th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. Coca-Cola Consolidated’s payout ratio is 13.26%.

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.