Kimelman & Baird LLC Makes New $601,000 Investment in Coca-Cola Consolidated, Inc. $COKE

Kimelman & Baird LLC bought a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 7,400 shares of the company’s stock, valued at approximately $601,000.

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

Analyst Ratings Changes

Several research analysts recently weighed in on COKE shares. Wall Street Zen lowered 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 analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy”.

Coca-Cola Consolidated Trading Up 2.0%

NASDAQ COKE opened at $198.49 on Friday. Coca-Cola Consolidated, Inc. has a 1-year low of $110.60 and a 1-year high of $219.65. The firm’s fifty day simple moving average is $186.16 and its 200-day simple moving average is $187.19. The company has a market capitalization of $13.21 billion, a PE ratio of 26.32 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its quarterly 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 business had revenue of $2.05 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

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

Coca-Cola Consolidated Company 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.