SSI Investment Management LLC Buys Shares of 3,853 Coca-Cola Consolidated, Inc. $COKE

SSI Investment Management LLC bought a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 3,853 shares of the company’s stock, valued at approximately $313,000.

Several other institutional investors also recently made changes to their positions in the stock. Quarry LP purchased a new position in shares of Coca-Cola Consolidated in the 3rd quarter valued at about $25,000. Advisory Services Network LLC acquired a new stake in shares of Coca-Cola Consolidated in the third quarter valued at about $25,000. J.Safra Asset Management Corp purchased a new stake in Coca-Cola Consolidated during the second quarter worth about $26,000. Newbridge Financial Services Group Inc. boosted its holdings in Coca-Cola Consolidated by 900.0% during the second quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company’s stock worth $26,000 after buying an additional 207 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its position in Coca-Cola Consolidated by 900.0% during the second quarter. Geneos Wealth Management Inc. now owns 250 shares of the company’s stock worth $28,000 after buying an additional 225 shares during the period. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Trading Down 1.0%

NASDAQ:COKE opened at $186.84 on Thursday. The company has a market capitalization of $12.44 billion, a P/E ratio of 24.78 and a beta of 0.55. The firm has a 50-day moving average price of $184.95 and a two-hundred day moving average price of $185.50. Coca-Cola Consolidated, Inc. has a twelve month low of $110.60 and a twelve month high of $219.65.

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

Coca-Cola Consolidated Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Friday, July 24th. Coca-Cola Consolidated’s dividend payout ratio is 13.26%.

Wall Street Analyst Weigh In

A number of research firms have 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 reaffirmed a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Coca-Cola Consolidated has a consensus rating of “Buy”.

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.