172,584 Shares of Coca-Cola Consolidated, Inc. $COKE Bought by Kintegral Advisory LLC

Key Points

• Kintegral Advisory LLC acquired 172,584 shares of Coca-Cola Consolidated in the third quarter, valued at approximately $32.7 million. The stake represents about 0.26% of the company and 2.4% of Kintegral’s portfolio.
• Institutional ownership remains significant, with hedge funds and other institutional investors holding 48.24% of COKE’s shares. Analysts maintain a consensus “Buy” rating, despite one recent downgrade to “Hold.”
• COKE shares recently traded at $210.33, near their 52-week high, while the company reported quarterly revenue of $2.05 billion and EPS of $2.83. Coca-Cola Consolidated also declared a quarterly dividend of $0.25 per share, implying a 0.5% yield.

Kintegral Advisory LLC acquired a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 172,584 shares of the company's stock, valued at approximately $32,665,000. Coca-Cola Consolidated makes up about 2.4% of Kintegral Advisory LLC's investment portfolio, making the stock its 6th largest holding. Kintegral Advisory LLC owned about 0.26% of Coca-Cola Consolidated as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Biglari Capital CORP. bought a new position in shares of Coca-Cola Consolidated in the second quarter valued at approximately $9,752,000. Ascentis Independent Advisors purchased a new stake in shares of Coca-Cola Consolidated during the first quarter valued at approximately $31,000. CX Institutional lifted its holdings in Coca-Cola Consolidated by 122.6% during the third quarter. CX Institutional now owns 187 shares of the company's stock worth $35,000 after acquiring an additional 103 shares during the period. Ballast Advisors LLC bought a new stake in Coca-Cola Consolidated during the first quarter worth $38,000. Finally, Western Wealth Management LLC purchased a new position in Coca-Cola Consolidated in the first quarter worth $44,000. Hedge funds and other institutional investors own 48.24% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on COKE shares. Wall Street Zen downgraded Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings reiterated a "buy (b)" rating on shares of Coca-Cola Consolidated in a research note on Monday, September 21st. One research analyst has rated the stock with a Buy rating. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy".

Coca-Cola Consolidated Price Performance

Shares of Coca-Cola Consolidated stock traded up $5.78 on Friday, reaching $210.33. 467,889 shares of the company traded hands, compared to its average volume of 539,404. Coca-Cola Consolidated, Inc. has a 52 week low of $126.00 and a 52 week high of $219.65. The company has a 50 day moving average of $192.60 and a 200 day moving average of $187.83. The firm has a market capitalization of $14.00 billion, a PE ratio of 27.90 and a beta of 0.55.

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

Coca-Cola Consolidated Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 6th. Shareholders of record on Friday, October 23rd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Friday, October 23rd. Coca-Cola Consolidated's dividend payout ratio is 13.26%.

About Coca-Cola Consolidated

Coca-Cola Consolidated, Inc is the largest Coca-Cola bottler in the United States. Headquartered in Charlotte, North Carolina, the company manufactures, packages, distributes and sells a broad portfolio of nonalcoholic beverages, including Coca-Cola, Diet Coke, Coca-Cola Zero Sugar, Sprite, Fanta, DASANI, smartwater, POWERADE and Topo Chico, along with other brands owned or licensed by The Coca-Cola Company and additional beverage partners.

The company serves customers across a territory covering portions of the Southeast, Mid-Atlantic and Midwest, including Alabama, Florida, Georgia, Kentucky, Maryland, Mississippi, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia and West Virginia, as well as the District of Columbia.

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