X Square Capital LLC Takes Position in Coca-Cola Consolidated, Inc. $COKE

X Square Capital LLC purchased a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, HoldingsChannel reports. The fund purchased 16,582 shares of the company’s stock, valued at approximately $1,348,000.

Other hedge funds also recently bought and sold shares of the company. Emerald Investment Advisers LLC purchased a new stake in Coca-Cola Consolidated during the 2nd quarter valued at about $9,138,000. Westpac Banking Corp purchased a new position in Coca-Cola Consolidated in the second quarter worth about $3,310,000. Iyo Bank Ltd. purchased a new position in Coca-Cola Consolidated in the second quarter worth about $7,021,000. TRB Wealth Management LLC bought a new position in shares of Coca-Cola Consolidated in the second quarter worth approximately $1,646,000. Finally, Sumitomo Life Insurance Co. bought a new position in shares of Coca-Cola Consolidated in the second quarter worth approximately $3,643,000. Institutional investors own 48.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. Wall Street Zen lowered shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy”.

Coca-Cola Consolidated Stock Performance

COKE opened at $189.10 on Friday. The stock has a market capitalization of $12.59 billion, a P/E ratio of 25.08 and a beta of 0.55. The company’s 50-day simple moving average is $185.00 and its two-hundred day simple moving average is $185.77. Coca-Cola Consolidated, Inc. has a 52-week low of $110.60 and a 52-week high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share (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 firm had revenue of $2.05 billion for the quarter.

Coca-Cola Consolidated Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 7th. Investors 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 dividend payout ratio (DPR) 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.