Clear Harbor Asset Management LLC Invests $1.20 Million in Coca-Cola Consolidated, Inc. $COKE

Clear Harbor Asset Management LLC purchased a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, Holdings Channel reports. The fund purchased 14,728 shares of the company’s stock, valued at approximately $1,197,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Quarry LP purchased a new stake in Coca-Cola Consolidated during the third quarter worth about $25,000. Advisory Services Network LLC purchased a new position in Coca-Cola Consolidated in the third quarter valued at about $25,000. J.Safra Asset Management Corp purchased a new position in Coca-Cola Consolidated in the second quarter valued at about $26,000. Newbridge Financial Services Group Inc. grew its position in shares of Coca-Cola Consolidated by 900.0% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company’s stock valued at $26,000 after acquiring an additional 207 shares during the period. Finally, Geneos Wealth Management Inc. increased its stake in shares of Coca-Cola Consolidated by 900.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 250 shares of the company’s stock worth $28,000 after purchasing an additional 225 shares during the last quarter. Institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Up 0.8%

NASDAQ COKE opened at $189.10 on Friday. The company has a market cap of $12.59 billion, a PE ratio of 25.08 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 52 week low of $110.60 and a 52 week high of $219.65. The firm’s 50-day simple moving average is $185.00 and its two-hundred day simple moving average is $185.77.

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

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on COKE shares. Wall Street Zen downgraded Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research note 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 analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Coca-Cola Consolidated has a consensus rating of “Buy”.

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.