1ST Source Bank Takes Position in Coca-Cola Consolidated, Inc. $COKE

Key Points

• 1ST Source Bank initiated a position in Coca-Cola Consolidated during the second quarter, purchasing 20,690 shares valued at approximately $1.68 million. Institutional investors collectively own 48.24% of the company.
• Analyst sentiment remains generally positive: Coca-Cola Consolidated has an average “Buy” rating, although Wall Street Zen recently downgraded the stock to “Hold.”
• COKE reported quarterly revenue of $2.05 billion and earnings of $2.83 per share, while maintaining a quarterly dividend of $0.25 per share, equivalent to a 0.5% annualized yield.

1ST Source Bank bought a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 20,690 shares of the company's stock, valued at approximately $1,681,000.

Other large investors have also recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Coca-Cola Consolidated by 8.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,251 shares of the company's stock worth $23,289,000 after buying an additional 1,385 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Coca-Cola Consolidated by 1,587.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 270 shares of the company's stock valued at $30,000 after purchasing an additional 254 shares during the period. Baird Financial Group Inc. increased its stake in shares of Coca-Cola Consolidated by 795.4% during the second quarter. Baird Financial Group Inc. now owns 9,966 shares of the company's stock valued at $1,113,000 after buying an additional 8,853 shares during the period. Marshall Wace LLP raised its holdings in shares of Coca-Cola Consolidated by 5,152.8% during the second quarter. Marshall Wace LLP now owns 18,910 shares of the company's stock valued at $2,111,000 after acquiring an additional 18,550 shares in the last quarter. Finally, Cresset Asset Management LLC raised its holdings in shares of Coca-Cola Consolidated by 169.0% during the second quarter. Cresset Asset Management LLC now owns 4,589 shares of the company's stock valued at $512,000 after acquiring an additional 2,883 shares in the last quarter. 48.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

COKE has been the topic of several research analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Coca-Cola Consolidated in a research 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 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 Stock Performance

NASDAQ:COKE opened at $189.11 on Monday. The firm has a market cap of $12.59 billion, a P/E ratio of 25.08 and a beta of 0.55. The firm has a 50-day simple moving average of $184.81 and a two-hundred day simple moving average of $184.70. Coca-Cola Consolidated, Inc. has a fifty-two week low of $110.60 and a fifty-two week high of $219.65.

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

Coca-Cola Consolidated Announces Dividend

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

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.

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