Occidental Asset Management LLC Makes New $931,000 Investment in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Occidental Asset Management bought 11,456 shares of Coca-Cola Consolidated worth approximately $931,000 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 revenue of $2.05 billion, while its stock recently traded around $186.21 and was down 1.5%.
• The company paid a quarterly dividend of $0.25 per share, equivalent to an annualized $1.00 dividend and a 0.5% yield. Analyst sentiment remains a consensus “Buy,” although Wall Street Zen downgraded the stock to “Hold.”

Occidental Asset Management LLC purchased a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,456 shares of the company's stock, valued at approximately $931,000.

A number of other institutional investors and hedge funds also recently modified their holdings of COKE. Ascentis Independent Advisors bought a new stake in shares of Coca-Cola Consolidated during the 1st quarter worth $31,000. Torren Management LLC acquired a new stake in shares of Coca-Cola Consolidated during the fourth quarter worth $29,000. Morse Asset Management Inc purchased a new stake in shares of Coca-Cola Consolidated during the fourth quarter valued at $31,000. Ballast Advisors LLC purchased a new stake in shares of Coca-Cola Consolidated during the first quarter valued at $38,000. Finally, Quarry LP acquired a new position 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.

Analyst Ratings Changes

A number of brokerages recently weighed in on COKE. Wall Street Zen cut 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 equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Coca-Cola Consolidated has a consensus rating of "Buy".

Coca-Cola Consolidated Trading Down 1.5%

Shares of Coca-Cola Consolidated stock opened at $186.21 on Tuesday. The stock has a 50-day moving average price of $184.96 and a 200 day moving average price of $184.96. The company has a market cap of $12.39 billion, a P/E ratio of 24.70 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.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last released 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 disclosed a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were given a dividend of $0.25 per share. The ex-dividend date of this dividend 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 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.

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