Solstein Capital LLC Makes New Investment in Coca-Cola Consolidated, Inc. $COKE

Solstein Capital LLC bought a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,583 shares of the company’s stock, valued at approximately $291,000.

Several other hedge funds also recently added to or reduced their stakes in COKE. BlackRock Inc. purchased a new position in shares of Coca-Cola Consolidated in the 2nd quarter valued at $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Coca-Cola Consolidated in the 2nd quarter valued at approximately $1,591,427,000. GQG Partners LLC purchased a new position in Coca-Cola Consolidated in the 2nd quarter valued at $1,494,498,000. Deutsche Bank AG acquired a new position in shares of Coca-Cola Consolidated during the second quarter worth about $1,346,125,000. Finally, B. Metzler seel. Sohn & Co. AG purchased a new position in shares of Coca-Cola Consolidated during the 2nd quarter worth approximately $272,683,000. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Stock Performance

Shares of COKE opened at $189.10 on Monday. The firm’s 50-day moving average is $185.00 and its two-hundred day moving average is $185.99. Coca-Cola Consolidated, Inc. has a twelve month low of $110.60 and a twelve month high of $219.65. The firm has a market capitalization of $12.59 billion, a P/E ratio of 25.08 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. 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 Announces Dividend

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 annualized dividend 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 presently 13.26%.

Analysts Set New Price Targets

COKE has been the subject of several recent analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. Wall Street Zen cut 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, Coca-Cola Consolidated presently has an average 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.