EJMK Ventures LLC Buys New Stake in Coca-Cola Consolidated, Inc. $COKE

EJMK Ventures LLC purchased a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, HoldingsChannel reports. The institutional investor purchased 4,901 shares of the company’s stock, valued at approximately $400,000.

Other large investors have also recently added to or reduced their stakes in the company. Ascentis Independent Advisors acquired a new position in shares of Coca-Cola Consolidated during the first quarter worth about $31,000. Torren Management LLC acquired a new stake in shares of Coca-Cola Consolidated in the fourth quarter valued at about $29,000. Morse Asset Management Inc acquired a new stake in shares of Coca-Cola Consolidated in the fourth quarter valued at about $31,000. Ballast Advisors LLC purchased a new stake in shares of Coca-Cola Consolidated during the 1st quarter valued at about $38,000. Finally, Quarry LP acquired a new position in Coca-Cola Consolidated during the 3rd quarter worth approximately $25,000. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Wall Street Zen cut 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 equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy”.

Coca-Cola Consolidated Stock Performance

NASDAQ:COKE opened at $189.11 on Friday. The stock has a market cap of $12.59 billion, a price-to-earnings ratio of 25.08 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a one year low of $110.60 and a one year high of $219.65. The business’s 50-day simple moving average is $184.81 and its 200 day simple moving average is $184.46.

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. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%.The company had revenue of $2.05 billion for the quarter.

Coca-Cola Consolidated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was 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 presently 13.26%.

About Coca-Cola Consolidated

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.