Polymer Capital Management HK LTD Purchases Shares of 38,132 Coca-Cola Consolidated, Inc. $COKE

Polymer Capital Management HK LTD purchased a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 38,132 shares of the company’s stock, valued at approximately $3,099,000. Polymer Capital Management HK LTD owned 0.06% of Coca-Cola Consolidated at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in COKE. Bessemer Group Inc. boosted its holdings in Coca-Cola Consolidated by 19.1% in the first quarter. Bessemer Group Inc. now owns 331 shares of the company’s stock valued at $63,000 after acquiring an additional 53 shares during the last quarter. Beacon Pointe Advisors LLC raised its holdings in Coca-Cola Consolidated by 2.6% during the 4th quarter. Beacon Pointe Advisors LLC now owns 2,842 shares of the company’s stock worth $436,000 after purchasing an additional 72 shares during the last quarter. Wealthfront Advisers LLC raised its holdings in Coca-Cola Consolidated by 4.1% during the 1st quarter. Wealthfront Advisers LLC now owns 1,869 shares of the company’s stock worth $358,000 after purchasing an additional 73 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Coca-Cola Consolidated by 8.9% in the 4th quarter. UMB Bank n.a. now owns 951 shares of the company’s stock worth $146,000 after purchasing an additional 78 shares during the period. Finally, Private Advisor Group LLC lifted its position in shares of Coca-Cola Consolidated by 2.2% in the 3rd quarter. Private Advisor Group LLC now owns 4,297 shares of the company’s stock worth $503,000 after purchasing an additional 94 shares during the period. 48.24% of the stock is currently owned by institutional investors.

Coca-Cola Consolidated Price Performance

NASDAQ COKE opened at $189.10 on Monday. The stock has a market capitalization of $12.59 billion, a P/E ratio of 25.08 and a beta of 0.55. The business has a 50 day simple moving average of $185.00 and a 200 day simple moving average of $185.99. Coca-Cola Consolidated, Inc. has a one year low of $110.60 and a one year high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share (EPS) for the quarter. The firm 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 announced a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, July 24th. This represents a $1.00 annualized dividend and a yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio is currently 13.26%.

Analysts Set New Price Targets

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