Empirical Asset Management LLC Invests $460,000 in Coca-Cola Consolidated, Inc. $COKE

Empirical Asset Management LLC bought a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, Holdings Channel reports. The firm bought 5,665 shares of the company’s stock, valued at approximately $460,000.

Several other large investors have also added to or reduced their stakes in COKE. Bessemer Group Inc. boosted its stake in Coca-Cola Consolidated by 19.1% during the 1st quarter. Bessemer Group Inc. now owns 331 shares of the company’s stock valued at $63,000 after purchasing an additional 53 shares during the last quarter. Beacon Pointe Advisors LLC raised its stake in shares of Coca-Cola Consolidated by 2.6% in the fourth 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 stake in shares of Coca-Cola Consolidated by 4.1% in the first 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 holdings in shares of Coca-Cola Consolidated by 8.9% in the fourth quarter. UMB Bank n.a. now owns 951 shares of the company’s stock valued at $146,000 after purchasing an additional 78 shares in the last quarter. Finally, Private Advisor Group LLC lifted its holdings in shares of Coca-Cola Consolidated by 2.2% in 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 in the last quarter. Institutional investors own 48.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Wall Street Zen downgraded Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Coca-Cola Consolidated currently has a consensus rating of “Buy”.

Coca-Cola Consolidated Stock Performance

Shares of COKE stock opened at $188.64 on Wednesday. Coca-Cola Consolidated, Inc. has a 52-week low of $110.60 and a 52-week high of $219.65. The company has a 50-day simple moving average of $185.03 and a two-hundred day simple moving average of $185.23. The company has a market capitalization of $12.56 billion, a price-to-earnings ratio of 25.02 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. Coca-Cola Consolidated had a net margin of 7.15% and a negative return on equity of 1,041.59%. The firm had revenue of $2.05 billion for the quarter.

Coca-Cola Consolidated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 7th. Investors 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 (DPR) is 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.