OMC Financial Services LTD Takes $892,000 Position in Coca-Cola Consolidated, Inc. $COKE

Key Points

• OMC Financial Services initiated a Coca-Cola Consolidated position by purchasing 10,979 shares worth approximately $892,000 in the second quarter. Institutional investors and hedge funds collectively own 48.24% of the company.
• Analyst sentiment remains generally positive: Coca-Cola Consolidated has an average “Buy” rating, although Wall Street Zen recently downgraded the stock to “Hold.”
• Coca-Cola Consolidated reported quarterly revenue of $2.05 billion and EPS of $2.83, while paying a quarterly dividend of $0.25 per share, equivalent to a 0.5% annualized yield.

OMC Financial Services LTD bought a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 10,979 shares of the company's stock, valued at approximately $892,000.

Other institutional investors have also recently bought and sold shares of the company. Bessemer Group Inc. boosted its stake 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 buying an additional 53 shares in the last quarter. Beacon Pointe Advisors LLC raised its stake in shares of 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 buying an additional 72 shares in the last quarter. Wealthfront Advisers LLC raised its stake in shares of Coca-Cola Consolidated by 4.1% in the 1st quarter. Wealthfront Advisers LLC now owns 1,869 shares of the company's stock valued at $358,000 after buying an additional 73 shares in the last quarter. UMB Bank n.a. lifted its holdings 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 acquiring an additional 78 shares during the period. Finally, Private Advisor Group LLC lifted its holdings in shares of Coca-Cola Consolidated by 2.2% during the 3rd quarter. Private Advisor Group LLC now owns 4,297 shares of the company's stock worth $503,000 after acquiring an additional 94 shares during the period. Institutional investors and hedge funds own 48.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on COKE shares. Weiss Ratings reissued a "buy (b)" rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. Wall Street Zen cut shares of Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy".

Coca-Cola Consolidated Price Performance

Shares of NASDAQ:COKE opened at $189.11 on Monday. The business's fifty day moving average price is $184.81 and its two-hundred day moving average price is $184.70. Coca-Cola Consolidated, Inc. has a fifty-two week low of $110.60 and a fifty-two week high of $219.65. The stock has a market capitalization of $12.59 billion, a price-to-earnings ratio of 25.08 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 earnings per share (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 given 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 dividend yield of 0.5%. Coca-Cola Consolidated's dividend payout ratio (DPR) 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.

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