Peak Asset Management LLC Invests $911,000 in Coca-Cola Consolidated, Inc. $COKE

Peak Asset Management LLC acquired a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, Holdings Channel reports. The firm acquired 11,215 shares of the company’s stock, valued at approximately $911,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Fiduciary Financial Advisors bought a new stake in Coca-Cola Consolidated in the 2nd quarter valued at about $621,000. Brandywine Trust Co. acquired a new stake in Coca-Cola Consolidated in the second quarter valued at approximately $868,000. L2 Asset Management LLC bought a new stake in shares of Coca-Cola Consolidated during the second quarter valued at approximately $1,704,000. Vega Investment Solutions bought a new stake in shares of Coca-Cola Consolidated during the second quarter valued at approximately $51,000. Finally, Cetera Trust Company N.A acquired a new position in shares of Coca-Cola Consolidated during the second quarter worth approximately $2,511,000. 48.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Coca-Cola Consolidated Trading Up 1.9%

Shares of COKE opened at $192.60 on Tuesday. The stock has a 50 day moving average of $185.14 and a 200 day moving average of $186.25. The company has a market capitalization of $12.82 billion, a price-to-earnings ratio of 25.54 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 12 month low of $110.60 and a 12 month high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 earnings per share (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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were issued 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 13.26%.

Coca-Cola Consolidated 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.