Kinloch Capital LLC Invests $4.88 Million in Coca-Cola Consolidated, Inc. $COKE

Kinloch Capital LLC purchased a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 60,027 shares of the company’s stock, valued at approximately $4,878,000. Coca-Cola Consolidated makes up approximately 1.8% of Kinloch Capital LLC’s investment portfolio, making the stock its 22nd largest position. Kinloch Capital LLC owned approximately 0.09% of Coca-Cola Consolidated as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Coca-Cola Consolidated during the 2nd quarter worth approximately $26,229,118,000. Legal & General Group Plc purchased a new position in shares of Coca-Cola Consolidated during the 2nd quarter worth approximately $1,978,267,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Coca-Cola Consolidated in the 2nd quarter valued at approximately $1,591,427,000. GQG Partners LLC acquired a new stake in shares of Coca-Cola Consolidated in the 2nd quarter valued at approximately $1,494,498,000. Finally, Deutsche Bank AG purchased a new stake in shares of Coca-Cola Consolidated in the second quarter valued at approximately $1,346,125,000. Institutional investors and hedge funds own 48.24% of the company’s stock.

Coca-Cola Consolidated Price Performance

COKE opened at $192.60 on Tuesday. Coca-Cola Consolidated, Inc. has a 1-year low of $110.60 and a 1-year high of $219.65. The stock has a market cap of $12.82 billion, a P/E ratio of 25.54 and a beta of 0.55. The stock’s 50 day simple moving average is $185.14 and its 200 day simple moving average is $186.25.

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

Coca-Cola Consolidated Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, July 24th. Coca-Cola Consolidated’s payout ratio is 13.26%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Wall Street Zen cut Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy”.

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.