Kendall Capital Management Invests $351,000 in Coca-Cola Consolidated, Inc. $COKE

Kendall Capital Management bought a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 4,319 shares of the company’s stock, valued at approximately $351,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Kirtland Hills Capital Management LLC bought a new stake in Coca-Cola Consolidated during the second quarter valued at $390,000. Compass Financial Management LLC bought a new position in shares of Coca-Cola Consolidated in the 2nd quarter worth about $1,638,000. Elevation Point Wealth Partners LLC bought a new position in shares of Coca-Cola Consolidated in the 2nd quarter worth about $26,291,000. Alta Advisers Ltd acquired a new position in shares of Coca-Cola Consolidated in the 2nd quarter valued at about $1,195,000. Finally, Daiichi Life Insurance Co. Ltd. acquired a new position in shares of Coca-Cola Consolidated in the 2nd quarter valued at about $35,488,000. Institutional investors and hedge funds own 48.24% of the company’s stock.

Coca-Cola Consolidated Trading Up 0.8%

NASDAQ:COKE opened at $189.10 on Friday. Coca-Cola Consolidated, Inc. has a 12 month low of $110.60 and a 12 month high of $219.65. The stock has a market capitalization of $12.59 billion, a price-to-earnings ratio of 25.08 and a beta of 0.55. The firm has a fifty day simple moving average of $185.00 and a two-hundred day simple moving average of $185.77.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 earnings per share for the quarter. The firm had revenue of $2.05 billion for 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. Investors of record on Friday, July 24th were paid 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 of this dividend was Friday, July 24th. Coca-Cola Consolidated’s dividend payout ratio is 13.26%.

Analysts Set New Price Targets

COKE has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. Wall Street Zen lowered Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has an average 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.