Pin Oak Investment Advisors Inc. Purchases Shares of 2,961 Coca-Cola Consolidated, Inc. $COKE

Pin Oak Investment Advisors Inc. purchased a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,961 shares of the company’s stock, valued at approximately $226,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. 49 Wealth Management LLC acquired a new stake in Coca-Cola Consolidated in the 2nd quarter worth about $413,000. Glenview Trust Co purchased a new position in shares of Coca-Cola Consolidated during the 2nd quarter worth about $34,863,000. Dearborn Partners LLC purchased a new position in shares of Coca-Cola Consolidated during the 2nd quarter worth about $3,690,000. FSA Advisors Inc. purchased a new stake in Coca-Cola Consolidated in the second quarter valued at approximately $324,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Coca-Cola Consolidated in the second quarter valued at approximately $3,195,000. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

COKE has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. Wall Street Zen downgraded Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Coca-Cola Consolidated has a consensus rating of “Buy”.

Coca-Cola Consolidated Trading Up 2.0%

Shares of NASDAQ:COKE opened at $198.49 on Friday. The company has a fifty day simple moving average of $186.16 and a 200 day simple moving average of $187.19. The firm has a market cap of $13.21 billion, a PE ratio of 26.32 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 12-month low of $110.60 and a 12-month high of $219.65.

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

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 given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, July 24th. Coca-Cola Consolidated’s dividend payout ratio is currently 13.26%.

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.