Magnolia Capital Advisors LLC Makes New $748,000 Investment in Coca-Cola Consolidated, Inc. $COKE

Magnolia Capital Advisors LLC acquired a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 9,202 shares of the company’s stock, valued at approximately $748,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in COKE. Biglari Capital CORP. bought a new position in shares of Coca-Cola Consolidated in the 2nd quarter worth approximately $9,752,000. Ascentis Independent Advisors bought a new stake in shares of Coca-Cola Consolidated during the first quarter valued at approximately $31,000. Torren Management LLC bought a new stake in shares of Coca-Cola Consolidated during the fourth quarter valued at approximately $29,000. Morse Asset Management Inc purchased a new stake in Coca-Cola Consolidated in the fourth quarter worth $31,000. Finally, Ballast Advisors LLC purchased a new stake in Coca-Cola Consolidated in the first quarter worth $38,000. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Performance

Shares of COKE stock opened at $194.02 on Thursday. The company has a market capitalization of $12.91 billion, a price-to-earnings ratio of 25.73 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a one year low of $110.60 and a one year high of $219.65. The company’s 50-day moving average is $185.56 and its 200 day moving average is $186.85.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share (EPS) for the quarter. The firm had revenue of $2.05 billion for 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, July 24th. This represents a $1.00 annualized dividend and a yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio is 13.26%.

Wall Street Analyst Weigh In

Several brokerages have commented on COKE. Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. Wall Street Zen downgraded shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Coca-Cola Consolidated presently has an average rating of “Buy”.

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.