Pinnacle Holdings LLC Buys Shares of 10,581 Coca-Cola Consolidated, Inc. $COKE

Pinnacle Holdings LLC purchased a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 10,581 shares of the company’s stock, valued at approximately $860,000.

Several other large investors also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Coca-Cola Consolidated in the 2nd quarter valued at approximately $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Coca-Cola Consolidated during the second quarter valued at approximately $1,591,427,000. GQG Partners LLC bought a new position in shares of Coca-Cola Consolidated in the second quarter valued at approximately $1,494,498,000. Deutsche Bank AG acquired a new stake in shares of Coca-Cola Consolidated in the second quarter worth $1,346,125,000. Finally, B. Metzler seel. Sohn & Co. AG bought a new stake in shares of Coca-Cola Consolidated during the 2nd quarter worth $272,683,000. Institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Price Performance

Shares of NASDAQ COKE opened at $189.10 on Monday. The business’s 50 day moving average is $185.00 and its two-hundred day moving average is $185.99. The company has a market cap of $12.59 billion, a P/E ratio of 25.08 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 12 month low of $110.60 and a 12 month high of $219.65.

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

Coca-Cola Consolidated Dividend Announcement

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

Analyst Upgrades and Downgrades

COKE has been the topic of several recent analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. Wall Street Zen cut shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average 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.