KG&L Capital Management LLC Raises Stake in Coca-Cola Consolidated, Inc. $COKE

Key Points

• KG&L Capital Management LLC significantly increased its stake in Coca-Cola Consolidated, raising it by 3,075.0% during the 2nd quarter, resulting in holdings worth approximately $2.55 million.
• Coca-Cola Consolidated reported a quarterly earnings per share of $2.24 for the previous quarter, with a return on equity of 44.91% and revenue of $1.86 billion.
• Wall Street Zen upgraded Coca-Cola Consolidated from a "hold" to a "buy" rating, reflecting positive sentiment towards the company's performance and potential growth.

KG&L Capital Management LLC raised its stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 3,075.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,860 shares of the company's stock after buying an additional 22,140 shares during the quarter. KG&L Capital Management LLC's holdings in Coca-Cola Consolidated were worth $2,552,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in COKE. Wayfinding Financial LLC purchased a new stake in Coca-Cola Consolidated in the 1st quarter valued at $46,000. Semmax Financial Advisors Inc. purchased a new position in shares of Coca-Cola Consolidated during the 1st quarter worth $50,000. Fifth Third Bancorp grew its holdings in shares of Coca-Cola Consolidated by 633.9% during the 2nd quarter. Fifth Third Bancorp now owns 455 shares of the company's stock worth $51,000 after purchasing an additional 393 shares during the period. Strategic Investment Solutions Inc. IL grew its holdings in shares of Coca-Cola Consolidated by 900.0% during the 2nd quarter. Strategic Investment Solutions Inc. IL now owns 540 shares of the company's stock worth $60,000 after purchasing an additional 486 shares during the period. Finally, Investors Research Corp grew its holdings in shares of Coca-Cola Consolidated by 900.0% during the 2nd quarter. Investors Research Corp now owns 650 shares of the company's stock worth $73,000 after purchasing an additional 585 shares during the period. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Coca-Cola Consolidated from a "hold" rating to a "buy" rating in a report on Saturday, July 26th.

Coca-Cola Consolidated Price Performance

COKE stock opened at $115.39 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.04 and a quick ratio of 1.78. The firm has a market capitalization of $10.03 billion, a P/E ratio of 17.22 and a beta of 0.76. The business's 50-day moving average is $116.38 and its two-hundred day moving average is $126.87. Coca-Cola Consolidated, Inc. has a 1 year low of $105.21 and a 1 year high of $146.09.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $2.24 earnings per share for the quarter. Coca-Cola Consolidated had a return on equity of 44.91% and a net margin of 8.43%.The business had revenue of $1.86 billion for the quarter.

Coca-Cola Consolidated Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Friday, July 25th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Friday, July 25th. Coca-Cola Consolidated's dividend payout ratio (DPR) is currently 14.93%.

About Coca-Cola Consolidated

Coca-Cola Consolidated, Inc, together with its subsidiaries, manufactures, markets, and distributes nonalcoholic beverages primarily products of The Coca-Cola Company in the United States. The company offers sparkling beverages; and still beverages, including energy products, as well as noncarbonated beverages comprising bottled water, ready to drink coffee and tea, enhanced water, juices, and sports drinks.

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