Oppenheimer & Co. Inc. Makes New Investment in Coca-Cola Consolidated, Inc. $COKE

Oppenheimer & Co. Inc. acquired a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,142 shares of the company’s stock, valued at approximately $482,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Fifth Third Bancorp boosted its stake in shares of Coca-Cola Consolidated by 16.0% during the third quarter. Fifth Third Bancorp now owns 528 shares of the company’s stock valued at $62,000 after purchasing an additional 73 shares during the period. Legacy Wealth Asset Management LLC boosted its stake in shares of Coca-Cola Consolidated by 2.3% during the fourth quarter. Legacy Wealth Asset Management LLC now owns 4,021 shares of the company’s stock valued at $616,000 after purchasing an additional 89 shares during the period. Private Advisor Group LLC boosted its stake in shares of Coca-Cola Consolidated by 2.2% during the third quarter. Private Advisor Group LLC now owns 4,297 shares of the company’s stock valued at $503,000 after purchasing an additional 94 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of Coca-Cola Consolidated by 0.8% during the third quarter. Oregon Public Employees Retirement Fund now owns 12,080 shares of the company’s stock valued at $1,415,000 after purchasing an additional 100 shares during the period. Finally, Alliance Wealth Management Group boosted its stake in shares of Coca-Cola Consolidated by 1.2% during the fourth quarter. Alliance Wealth Management Group now owns 8,589 shares of the company’s stock valued at $1,317,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Performance

NASDAQ:COKE opened at $174.31 on Friday. The firm has a market cap of $11.60 billion, a PE ratio of 23.85 and a beta of 0.61. Coca-Cola Consolidated, Inc. has a fifty-two week low of $105.21 and a fifty-two week high of $219.65. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.97 and a current ratio of 1.23. The business has a 50 day moving average price of $198.77 and a 200-day moving average price of $170.21.

Coca-Cola Consolidated (NASDAQ:COKE) last released its quarterly earnings data on Wednesday, May 6th. The company reported $1.79 earnings per share for the quarter. Coca-Cola Consolidated had a return on equity of 138.44% and a net margin of 7.72%.The firm had revenue of $1.71 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, April 24th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Friday, April 24th. Coca-Cola Consolidated’s payout ratio is presently 13.68%.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently 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.