Front Street Capital Management Inc. Takes $395,000 Position in Coca-Cola Consolidated, Inc. $COKE

Front Street Capital Management Inc. acquired a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,855 shares of the company’s stock, valued at approximately $395,000.

Other large investors have also recently modified their holdings of the company. Ascentis Independent Advisors acquired a new stake in Coca-Cola Consolidated in the first quarter valued at about $31,000. Torren Management LLC acquired a new position in shares of Coca-Cola Consolidated in the 4th quarter worth approximately $29,000. Morse Asset Management Inc acquired a new stake in Coca-Cola Consolidated during the fourth quarter worth approximately $31,000. Ballast Advisors LLC bought a new stake in Coca-Cola Consolidated in the first quarter valued at $38,000. Finally, Quarry LP bought a new stake in shares of Coca-Cola Consolidated during the third quarter valued at approximately $25,000. Institutional investors and hedge funds own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Up 1.9%

Coca-Cola Consolidated stock opened at $192.60 on Tuesday. The company has a market capitalization of $12.82 billion, a P/E ratio of 25.54 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a twelve month low of $110.60 and a twelve month high of $219.65. The stock’s 50 day moving average is $185.14 and its 200 day moving average is $186.25.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its quarterly 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 during the quarter.

Coca-Cola Consolidated Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, July 24th. Coca-Cola Consolidated’s payout ratio is 13.26%.

Wall Street Analyst Weigh In

Several analysts have recently commented on COKE shares. Wall Street Zen downgraded shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy”.

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.