7,400 Shares in Coca-Cola Consolidated, Inc. $COKE Bought by Kimelman & Baird LLC

Kimelman & Baird LLC bought a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 7,400 shares of the company’s stock, valued at approximately $601,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in COKE. Vanguard Group Inc. raised its position in shares of Coca-Cola Consolidated by 6.4% during the 4th quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company’s stock worth $871,673,000 after buying an additional 341,374 shares in the last quarter. Primecap Management Co. CA bought a new position in shares of Coca-Cola Consolidated in the second quarter valued at approximately $2,861,000. Caisse de depot et placement du Quebec bought a new position in shares of Coca-Cola Consolidated in the second quarter valued at approximately $291,152,000. Catalyst Investment Management LLC acquired a new position in shares of Coca-Cola Consolidated during the second quarter valued at approximately $573,000. Finally, Horizon Investments LLC raised its holdings in Coca-Cola Consolidated by 1,655,666.7% during the fourth quarter. Horizon Investments LLC now owns 49,673 shares of the company’s stock worth $7,602,000 after purchasing an additional 49,670 shares in the last quarter. 48.24% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Consolidated Trading Up 2.0%

NASDAQ:COKE opened at $198.49 on Friday. Coca-Cola Consolidated, Inc. has a twelve month low of $110.60 and a twelve month high of $219.65. The company has a 50-day moving average of $186.16 and a 200-day moving average of $187.19. The firm has a market cap of $13.21 billion, a price-to-earnings ratio of 26.32 and a beta of 0.55.

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

Coca-Cola Consolidated Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on COKE shares. Wall Street Zen lowered Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Coca-Cola Consolidated currently 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.