2,646 Shares in Coca-Cola Consolidated, Inc. $COKE Acquired by Manhattan West Asset Management LLC

Manhattan West Asset Management LLC acquired a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,646 shares of the company’s stock, valued at approximately $215,000.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in Coca-Cola Consolidated during the second quarter worth about $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Coca-Cola Consolidated during the 2nd quarter valued at about $1,591,427,000. Deutsche Bank AG bought a new position in shares of Coca-Cola Consolidated during the 2nd quarter valued at about $1,346,125,000. B. Metzler seel. Sohn & Co. AG acquired a new position in shares of Coca-Cola Consolidated in the 2nd quarter worth approximately $272,683,000. Finally, Commerzbank Aktiengesellschaft FI acquired a new position in shares of Coca-Cola Consolidated in the 2nd quarter worth approximately $147,857,000. Institutional investors and hedge funds own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Up 0.8%

Coca-Cola Consolidated stock opened at $189.10 on Friday. Coca-Cola Consolidated, Inc. has a 12 month low of $110.60 and a 12 month high of $219.65. The stock has a market cap of $12.59 billion, a P/E ratio of 25.08 and a beta of 0.55. The company’s fifty day simple moving average is $185.00 and its 200-day simple moving average is $185.77.

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

Coca-Cola Consolidated Dividend Announcement

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

Analysts Set New Price Targets

Several analysts recently commented 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 downgraded Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, Coca-Cola Consolidated currently has a consensus rating of “Buy”.

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.