Jupiter Topco LLC Takes $226.55 Million Position in Coca-Cola Consolidated, Inc. $COKE

Jupiter Topco LLC purchased a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,788,107 shares of the company’s stock, valued at approximately $226,552,000. Jupiter Topco LLC owned approximately 4.19% of Coca-Cola Consolidated as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ascentis Independent Advisors bought a new position in Coca-Cola Consolidated during the 1st quarter valued at approximately $31,000. Torren Management LLC bought a new stake in Coca-Cola Consolidated in the fourth quarter worth $29,000. Morse Asset Management Inc bought a new stake in Coca-Cola Consolidated in the fourth quarter worth $31,000. Ballast Advisors LLC purchased a new stake in shares of Coca-Cola Consolidated in the first quarter worth $38,000. Finally, Quarry LP purchased a new stake in shares of Coca-Cola Consolidated in the third quarter worth $25,000. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Trading Down 1.3%

COKE stock opened at $194.02 on Thursday. The stock’s 50 day simple moving average is $185.56 and its 200 day simple moving average is $186.85. 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 capitalization of $12.91 billion, a PE ratio of 25.73 and a beta of 0.55.

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

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 dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, July 24th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is 13.26%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on COKE shares. Weiss Ratings reaffirmed 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.com, the company presently has a consensus rating of “Buy”.

Coca-Cola Consolidated 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.