Kinloch Capital LLC Purchases Shares of 60,027 Coca-Cola Consolidated, Inc. $COKE

Kinloch Capital LLC acquired a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 60,027 shares of the company’s stock, valued at approximately $4,878,000. Coca-Cola Consolidated accounts for approximately 1.8% of Kinloch Capital LLC’s portfolio, making the stock its 22nd largest holding.

Several other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in Coca-Cola Consolidated during the 2nd quarter valued at $26,229,118,000. Legal & General Group Plc acquired a new position in shares of Coca-Cola Consolidated in the second quarter worth $1,978,267,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Coca-Cola Consolidated in the second quarter worth $1,591,427,000. GQG Partners LLC acquired a new stake in shares of Coca-Cola Consolidated during the second quarter valued at $1,494,498,000. Finally, Deutsche Bank AG purchased a new stake in Coca-Cola Consolidated during the 2nd quarter worth about $1,346,125,000. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Consolidated Stock Up 1.9%

COKE stock opened at $192.60 on Tuesday. Coca-Cola Consolidated, Inc. has a 52-week low of $110.60 and a 52-week high of $219.65. The stock’s fifty day simple moving average is $185.14 and its 200-day simple moving average is $186.25. The stock has a market capitalization of $12.82 billion, a price-to-earnings ratio of 25.54 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE) last released its earnings results on Wednesday, August 5th. The company reported $2.83 EPS for the quarter. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%.The firm had revenue of $2.05 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

The firm 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. The ex-dividend date was Friday, July 24th. This represents a $1.00 annualized dividend and a yield of 0.5%. Coca-Cola Consolidated’s payout ratio is 13.26%.

Wall Street Analyst Weigh In

COKE has been the topic of a number of recent research reports. Wall Street Zen lowered shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report 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 investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Coca-Cola Consolidated presently 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.