Ninepoint Partners LP Purchases Shares of 4,345 Coca-Cola Consolidated, Inc. $COKE

Ninepoint Partners LP purchased a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,345 shares of the company’s stock, valued at approximately $353,000.

Several other hedge funds have also recently modified their holdings of the stock. SGL Investment Advisors Inc. purchased a new position in shares of Coca-Cola Consolidated in the 2nd quarter valued at approximately $754,000. Advisors Capital Management LLC purchased a new stake in Coca-Cola Consolidated during the 2nd quarter worth approximately $67,055,000. Cannon Wealth Management Services LLC acquired a new position in Coca-Cola Consolidated during the 2nd quarter valued at approximately $640,000. MJP Associates Inc. ADV acquired a new position in Coca-Cola Consolidated during the 2nd quarter valued at approximately $1,203,000. Finally, PCM Encore LLC acquired a new position in Coca-Cola Consolidated during the 2nd quarter valued at approximately $1,393,000. Institutional investors and hedge funds own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Up 0.8%

Coca-Cola Consolidated stock opened at $189.10 on Friday. The stock has a 50-day moving average price of $185.00 and a 200 day moving average price of $185.77. The company has a market capitalization of $12.59 billion, a price-to-earnings ratio of 25.08 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 52 week low of $110.60 and a 52 week high of $219.65.

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

Coca-Cola Consolidated Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were issued a $0.25 dividend. 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 dividend payout ratio is 13.26%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on COKE shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. Wall Street Zen downgraded 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, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy”.

Coca-Cola Consolidated Company 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.