WNY Asset Management LLC Acquires New Position in Coca-Cola Consolidated, Inc. $COKE

WNY Asset Management LLC acquired a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 6,353 shares of the company’s stock, valued at approximately $1,218,000.

Other hedge funds have also added to or reduced their stakes in the company. Ascentis Independent Advisors purchased a new position in shares of Coca-Cola Consolidated during the first quarter worth approximately $31,000. Torren Management LLC bought a new stake in shares of Coca-Cola Consolidated during the fourth quarter valued at approximately $29,000. Morse Asset Management Inc bought a new stake in shares of Coca-Cola Consolidated during the fourth quarter valued at approximately $31,000. Quarry LP purchased a new stake in shares of Coca-Cola Consolidated in the third quarter valued at approximately $25,000. Finally, Advisory Services Network LLC bought a new position in Coca-Cola Consolidated in the third quarter worth approximately $25,000. 48.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. One 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 Price Performance

NASDAQ:COKE opened at $187.90 on Friday. Coca-Cola Consolidated, Inc. has a 1-year low of $110.40 and a 1-year high of $219.65. The company has a 50-day moving average of $182.59 and a 200 day moving average of $182.03. The firm has a market cap of $12.51 billion, a PE ratio of 25.70 and a beta of 0.54.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its earnings results on Wednesday, May 6th. The company reported $1.79 EPS for the quarter. Coca-Cola Consolidated had a net margin of 7.72% and a return on equity of 138.44%. The business had revenue of $1.71 billion for the quarter.

Coca-Cola Consolidated Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 24th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, July 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is currently 13.68%.

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.