OVERSEA CHINESE BANKING Corp Ltd Acquires Shares of 164,066 Coca-Cola Consolidated, Inc. $COKE

OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 164,066 shares of the company’s stock, valued at approximately $13,339,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. August Group Capital Ltd bought a new position in shares of Coca-Cola Consolidated in the second quarter valued at approximately $320,000. E Fund Management Co. Ltd. purchased a new stake in shares of Coca-Cola Consolidated during the second quarter valued at approximately $3,378,000. Asahi Life Asset Management CO. LTD. bought a new stake in Coca-Cola Consolidated during the second quarter worth $1,162,000. Somerville Kurt F bought a new stake in Coca-Cola Consolidated during the second quarter worth $1,016,000. Finally, MSH Capital Advisors LLC purchased a new position in Coca-Cola Consolidated in the second quarter worth $5,998,000. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. Wall Street Zen cut 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, Based on data from MarketBeat.com, the company presently has an average rating of “Buy”.

Coca-Cola Consolidated Stock Up 0.4%

Shares of COKE opened at $187.60 on Friday. The business’s 50-day moving average price is $184.97 and its 200-day moving average price is $185.75. Coca-Cola Consolidated, Inc. has a twelve month low of $110.60 and a twelve month high of $219.65. The stock has a market cap of $12.49 billion, a PE ratio of 24.88 and a beta of 0.55.

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

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

Coca-Cola Consolidated Company 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.