Kirtland Hills Capital Management LLC Acquires New Stake in Coca-Cola Consolidated, Inc. $COKE

Kirtland Hills Capital Management LLC bought a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,794 shares of the company’s stock, valued at approximately $390,000.

A number of other large investors have also made changes to their positions in COKE. BlackRock Inc. purchased a new stake in shares of Coca-Cola Consolidated during the 2nd quarter valued at about $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Coca-Cola Consolidated in the second quarter worth approximately $1,591,427,000. GQG Partners LLC bought a new stake in Coca-Cola Consolidated during the second quarter valued at approximately $1,494,498,000. Deutsche Bank AG bought a new stake in Coca-Cola Consolidated during the second quarter valued at approximately $1,346,125,000. Finally, B. Metzler seel. Sohn & Co. AG purchased a new stake in Coca-Cola Consolidated during the second quarter valued at approximately $272,683,000. 48.24% of the stock is currently owned by institutional investors.

Coca-Cola Consolidated Trading Up 0.8%

NASDAQ COKE opened at $189.10 on Friday. Coca-Cola Consolidated, Inc. has a 12 month low of $110.60 and a 12 month high of $219.65. The stock has a market cap of $12.59 billion, a price-to-earnings ratio of 25.08 and a beta of 0.55. The company’s 50 day moving average is $185.00 and its two-hundred day moving average is $185.77.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share for the quarter. The business 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 Dividend Announcement

The company 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 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 currently 13.26%.

Analyst Ratings Changes

Several research analysts have weighed in on COKE shares. Weiss Ratings reiterated 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 research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Coca-Cola Consolidated has a consensus 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.