Oppenheimer Asset Management Inc. Buys New Holdings in Coca-Cola Consolidated, Inc. $COKE

Oppenheimer Asset Management Inc. purchased a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,877 shares of the company’s stock, valued at approximately $1,040,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Coca-Cola Consolidated during the second quarter worth $280,669,000. Boston Partners lifted its stake in Coca-Cola Consolidated by 942.2% in the 2nd quarter. Boston Partners now owns 2,089,876 shares of the company’s stock worth $233,345,000 after purchasing an additional 1,889,358 shares in the last quarter. State Street Corp boosted its holdings in shares of Coca-Cola Consolidated by 836.9% during the 2nd quarter. State Street Corp now owns 1,729,065 shares of the company’s stock valued at $193,050,000 after purchasing an additional 1,544,516 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Coca-Cola Consolidated by 882.9% during the second quarter. Geode Capital Management LLC now owns 1,302,088 shares of the company’s stock valued at $145,398,000 after purchasing an additional 1,169,611 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Coca-Cola Consolidated by 1,270.8% in the second quarter. AQR Capital Management LLC now owns 1,185,937 shares of the company’s stock worth $131,906,000 after purchasing an additional 1,099,421 shares during the last quarter. Institutional investors own 48.24% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy”.

Coca-Cola Consolidated Stock Down 1.1%

Shares of NASDAQ:COKE opened at $161.91 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.79 and a debt-to-equity ratio of 0.88. Coca-Cola Consolidated, Inc. has a 12 month low of $105.21 and a 12 month high of $169.49. The company has a 50-day moving average price of $156.02 and a 200 day moving average price of $138.77. The company has a market cap of $13.84 billion, a price-to-earnings ratio of 23.05 and a beta of 0.64.

Coca-Cola Consolidated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 6th. Investors of record on Friday, January 23rd were given a $0.25 dividend. The ex-dividend date was Friday, January 23rd. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is currently 14.25%.

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.