W1M Asset Management Ltd Invests $9.46 Million in Coca-Cola Consolidated, Inc. $COKE

W1M Asset Management Ltd purchased a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 116,407 shares of the company’s stock, valued at approximately $9,456,000.

A number of other hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Coca-Cola Consolidated during the 2nd quarter valued at about $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Coca-Cola Consolidated in the second quarter worth about $1,591,427,000. Deutsche Bank AG bought a new position in shares of Coca-Cola Consolidated in the second quarter worth approximately $1,346,125,000. B. Metzler seel. Sohn & Co. AG purchased a new stake in shares of Coca-Cola Consolidated during the second quarter valued at approximately $272,683,000. Finally, Korea Investment CORP purchased a new stake in shares of Coca-Cola Consolidated during the second quarter valued at approximately $200,172,000. Institutional investors own 48.24% of the company’s stock.

Analyst Upgrades and Downgrades

COKE has been the subject of a number of recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. Wall Street Zen cut Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy”.

Coca-Cola Consolidated Stock Up 0.8%

Shares of Coca-Cola Consolidated stock opened at $189.10 on Friday. Coca-Cola Consolidated, Inc. has a twelve month low of $110.60 and a twelve month high of $219.65. The company’s 50 day moving average is $185.00 and its 200 day moving average is $185.77. The company has a market cap of $12.59 billion, a price-to-earnings ratio of 25.08 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its earnings results on Wednesday, August 5th. The company reported $2.83 EPS for the quarter. The business had revenue of $2.05 billion during 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, July 24th. This represents a $1.00 annualized dividend and a dividend 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.