651,120 Shares in Coca-Cola Consolidated, Inc. $COKE Bought by Commerce Bank

Key Points

• Commerce Bank bought 651,120 shares of Coca-Cola Consolidated in the second quarter, valued at approximately $52.9 million and representing about 0.98% of the company. Institutional investors collectively own 48.24% of COKE.
• Coca-Cola Consolidated reported quarterly revenue of $2.05 billion and earnings of $2.83 per share, while the stock opened at $189.10 with a market capitalization of roughly $12.59 billion.
• The company paid a quarterly dividend of $0.25 per share, equivalent to an annualized $1.00 dividend and a 0.5% yield. Analyst sentiment remains positive overall, with MarketBeat reporting a consensus “Buy” rating despite one recent downgrade to “Hold.”

Commerce Bank bought a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 651,120 shares of the company's stock, valued at approximately $52,917,000. Commerce Bank owned approximately 0.98% of Coca-Cola Consolidated as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of COKE. Bessemer Group Inc. lifted its stake in Coca-Cola Consolidated by 19.1% in the 1st quarter. Bessemer Group Inc. now owns 331 shares of the company's stock worth $63,000 after purchasing an additional 53 shares in the last quarter. Beacon Pointe Advisors LLC grew its position in shares of Coca-Cola Consolidated by 2.6% during the fourth quarter. Beacon Pointe Advisors LLC now owns 2,842 shares of the company's stock valued at $436,000 after purchasing an additional 72 shares in the last quarter. Wealthfront Advisers LLC increased its holdings in shares of Coca-Cola Consolidated by 4.1% in the first quarter. Wealthfront Advisers LLC now owns 1,869 shares of the company's stock worth $358,000 after purchasing an additional 73 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Coca-Cola Consolidated by 8.9% in the fourth quarter. UMB Bank n.a. now owns 951 shares of the company's stock worth $146,000 after purchasing an additional 78 shares during the last quarter. Finally, Private Advisor Group LLC increased its holdings in shares of Coca-Cola Consolidated by 2.2% in the third quarter. Private Advisor Group LLC now owns 4,297 shares of the company's stock worth $503,000 after purchasing an additional 94 shares during the last quarter. 48.24% of the stock is currently owned by institutional investors.

Coca-Cola Consolidated Stock Up 0.8%

Coca-Cola Consolidated stock opened at $189.10 on Friday. Coca-Cola Consolidated, Inc. has a 52-week low of $110.60 and a 52-week high of $219.65. The firm's fifty day moving average is $185.00 and its 200 day moving average is $185.77. The company has a market cap of $12.59 billion, a price-to-earnings ratio of 25.08 and a beta of 0.55.

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

Coca-Cola Consolidated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, July 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. Coca-Cola Consolidated's dividend payout ratio (DPR) is presently 13.26%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on COKE shares. Weiss Ratings reissued a "buy (b)" rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. Wall Street Zen downgraded Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently 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.

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