MidFirst Bank Invests $3.94 Million in Coca-Cola Consolidated, Inc. $COKE

MidFirst Bank acquired a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 48,423 shares of the company’s stock, valued at approximately $3,935,000. MidFirst Bank owned about 0.07% of Coca-Cola Consolidated at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of COKE. BlackRock Inc. purchased a new stake in Coca-Cola Consolidated in the 2nd quarter worth approximately $26,229,118,000. Occidental Asset Management LLC purchased a new position in shares of Coca-Cola Consolidated during the 2nd quarter worth $931,000. Dunhill Financial LLC purchased a new position in shares of Coca-Cola Consolidated during the 2nd quarter worth $108,000. Pallas Capital Advisors LLC acquired a new stake in shares of Coca-Cola Consolidated during the second quarter worth $11,089,000. Finally, Paragon Financial Partners Inc. acquired a new stake in shares of Coca-Cola Consolidated during the second quarter worth $350,000. Institutional investors and hedge funds own 48.24% of the company’s stock.

Wall Street Analysts Forecast Growth

COKE has been the subject of several analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. Wall Street Zen lowered Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

Coca-Cola Consolidated Stock Down 1.5%

NASDAQ:COKE opened at $186.21 on Tuesday. The company has a market cap of $12.39 billion, a P/E ratio of 24.70 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a fifty-two week low of $110.60 and a fifty-two week high of $219.65. The firm’s 50 day moving average is $184.96 and its two-hundred day moving average is $184.96.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 earnings per share (EPS) for the quarter. The company 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 company also recently declared a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Friday, July 24th. Coca-Cola Consolidated’s 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.