Pinnacle West Asset Management Inc. Purchases New Holdings in Coca-Cola Consolidated, Inc. $COKE

Pinnacle West Asset Management Inc. purchased 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 and Exchange Commission (SEC). The firm purchased 11,040 shares of the company’s stock, valued at approximately $897,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Coca-Cola Consolidated by 6.4% during the 4th quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company’s stock valued at $871,673,000 after purchasing an additional 341,374 shares during the last quarter. Catalyst Investment Management LLC purchased a new position in shares of Coca-Cola Consolidated in the 2nd quarter worth about $573,000. Horizon Investments LLC boosted its holdings in shares of Coca-Cola Consolidated by 1,655,666.7% in the 4th quarter. Horizon Investments LLC now owns 49,673 shares of the company’s stock worth $7,602,000 after buying an additional 49,670 shares during the last quarter. Vest Financial LLC grew its position in Coca-Cola Consolidated by 60.8% during the fourth quarter. Vest Financial LLC now owns 232,597 shares of the company’s stock valued at $35,657,000 after buying an additional 87,912 shares during the period. Finally, James Investment Research Inc. grew its position in Coca-Cola Consolidated by 62.2% during the fourth quarter. James Investment Research Inc. now owns 22,412 shares of the company’s stock valued at $3,436,000 after buying an additional 8,593 shares during the period. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Price Performance

Shares of NASDAQ COKE opened at $189.10 on Friday. Coca-Cola Consolidated, Inc. has a one year low of $110.60 and a one year high of $219.65. The business’s fifty day moving average price is $185.00 and its 200-day moving average price is $185.77. The stock has a market capitalization of $12.59 billion, a PE ratio of 25.08 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share 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 during the quarter.

Coca-Cola Consolidated Dividend Announcement

The firm also recently announced 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 was Friday, July 24th. Coca-Cola Consolidated’s dividend payout ratio (DPR) is currently 13.26%.

Analyst Upgrades and Downgrades

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

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.