Reliant Investment Partners LLC Invests $332,000 in Coca-Cola Consolidated, Inc. $COKE

Reliant Investment Partners LLC bought a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,088 shares of the company’s stock, valued at approximately $332,000.

A number of other hedge funds have also bought and sold shares of the business. Ninepoint Partners LP acquired a new stake in Coca-Cola Consolidated in the 2nd quarter worth about $353,000. SGL Investment Advisors Inc. acquired a new position in shares of Coca-Cola Consolidated during the 2nd quarter worth approximately $754,000. Advisors Capital Management LLC bought a new position in shares of Coca-Cola Consolidated during the second quarter worth approximately $67,055,000. Cannon Wealth Management Services LLC bought a new position in shares of Coca-Cola Consolidated during the second quarter worth approximately $640,000. Finally, MJP Associates Inc. ADV acquired a new stake in shares of Coca-Cola Consolidated in the second quarter valued at approximately $1,203,000. 48.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wall Street Zen cut Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy”.

Coca-Cola Consolidated Stock Up 0.4%

Shares of Coca-Cola Consolidated stock opened at $187.60 on Friday. Coca-Cola Consolidated, Inc. has a 12-month low of $110.60 and a 12-month high of $219.65. The company has a market capitalization of $12.49 billion, a price-to-earnings ratio of 24.88 and a beta of 0.55. The firm’s 50-day moving average price is $184.97 and its two-hundred day moving average price is $185.75.

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

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.