Empirical Asset Management LLC Takes Position in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Empirical Asset Management acquired 5,665 shares of Coca-Cola Consolidated worth approximately $460,000 during the second quarter. Institutional investors and hedge funds collectively own 48.24% of the company.
• Coca-Cola Consolidated reported quarterly earnings of $2.83 per share on $2.05 billion in revenue, with a 7.15% net margin. The company also paid a quarterly dividend of $0.25 per share, equivalent to a 0.5% annual yield.
• COKE shares opened at $188.64, compared with a 52-week range of $110.60 to $219.65. Analysts maintain an overall “Buy” rating, although Wall Street Zen recently downgraded the stock to “Hold.”

Empirical Asset Management LLC bought a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,665 shares of the company's stock, valued at approximately $460,000.

Several other large investors have also added to or reduced their stakes in the business. Ascentis Independent Advisors bought a new stake in Coca-Cola Consolidated in the first quarter worth approximately $31,000. Torren Management LLC bought a new position in shares of Coca-Cola Consolidated during the 4th quarter worth approximately $29,000. Morse Asset Management Inc acquired a new stake in shares of Coca-Cola Consolidated during the 4th quarter worth approximately $31,000. Ballast Advisors LLC acquired a new stake in shares of Coca-Cola Consolidated during the 1st quarter worth approximately $38,000. Finally, Quarry LP bought a new stake in shares of Coca-Cola Consolidated in the 3rd quarter valued at $25,000. Institutional investors and hedge funds own 48.24% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on COKE. Wall Street Zen downgraded shares of Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Weiss Ratings restated a "buy (b)" rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. One equities research 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".

Coca-Cola Consolidated Stock Performance

COKE stock opened at $188.64 on Wednesday. The stock's 50 day simple moving average is $185.03 and its 200 day simple moving average is $185.23. The company has a market cap of $12.56 billion, a P/E ratio of 25.02 and a beta of 0.55. 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 - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 EPS for the quarter. The firm had revenue of $2.05 billion during 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 7th. Investors 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 currently 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.

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