Kinloch Capital LLC Invests $4.88 Million in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Kinloch Capital acquired 60,027 shares of Coca-Cola Consolidated valued at approximately $4.88 million, making up 1.8% of its portfolio and representing about 0.09% of the company.
• Institutional investors own 48.24% of COKE, while the stock recently traded at $192.60, with a market capitalization of $12.82 billion and a 52-week range of $110.60 to $219.65.
• Coca-Cola Consolidated reported quarterly EPS of $2.83 on $2.05 billion in revenue and declared a $0.25-per-share quarterly dividend. Analysts maintain a consensus “Buy” rating, despite one recent downgrade to “Hold.”

Kinloch Capital LLC purchased a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 60,027 shares of the company's stock, valued at approximately $4,878,000. Coca-Cola Consolidated makes up approximately 1.8% of Kinloch Capital LLC's investment portfolio, making the stock its 22nd largest position. Kinloch Capital LLC owned approximately 0.09% of Coca-Cola Consolidated as of its most recent SEC filing.

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

Coca-Cola Consolidated Price Performance

COKE opened at $192.60 on Tuesday. Coca-Cola Consolidated, Inc. has a 1-year low of $110.60 and a 1-year high of $219.65. The stock has a market cap of $12.82 billion, a P/E ratio of 25.54 and a beta of 0.55. The stock's 50 day simple moving average is $185.14 and its 200 day simple moving average is $186.25.

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

Coca-Cola Consolidated Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Wall Street Zen cut 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 equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy".

Coca-Cola Consolidated 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source