Danske Bank A S Acquires New Shares in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Danske Bank A/S acquired 87,925 shares of Coca-Cola Consolidated during the second quarter, worth approximately $7.15 million and representing about 0.13% of the company.
• Institutional investors currently own 48.24% of Coca-Cola Consolidated. Analyst sentiment remains generally positive, with an average “Buy” rating, although Wall Street Zen recently downgraded the stock to “Hold.”
• COKE was trading at $189.10, with a market capitalization of $12.59 billion. Its latest quarter included $2.05 billion in revenue and $2.83 in EPS, while the company maintains a quarterly dividend of $0.25, yielding about 0.5% annually.

Danske Bank A S purchased a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 87,925 shares of the company's stock, valued at approximately $7,146,000. Danske Bank A S owned about 0.13% of Coca-Cola Consolidated as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ascentis Independent Advisors acquired a new position in shares of Coca-Cola Consolidated in the 1st quarter worth approximately $31,000. Torren Management LLC acquired a new position in Coca-Cola Consolidated in the fourth quarter valued at about $29,000. Morse Asset Management Inc bought a new position in Coca-Cola Consolidated during the fourth quarter worth about $31,000. Ballast Advisors LLC acquired a new position in shares of Coca-Cola Consolidated in the 1st quarter valued at $38,000. Finally, Quarry LP acquired a new position in shares of Coca-Cola Consolidated in the 3rd quarter valued at $25,000. 48.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

COKE has been the subject of several analyst reports. Wall Street Zen cut Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Weiss Ratings reissued a "buy (b)" rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Coca-Cola Consolidated has an average rating of "Buy".

Coca-Cola Consolidated Trading Up 0.8%

NASDAQ:COKE opened at $189.10 on Friday. 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 $12.59 billion, a price-to-earnings ratio of 25.08 and a beta of 0.55. The firm has a fifty day simple moving average of $185.00 and a two-hundred day simple moving average of $185.77.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last issued its 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 for 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were issued a $0.25 dividend. The ex-dividend date 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 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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