Deutsche Bank AG Acquires New Position in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Deutsche Bank AG acquired 16.56 million shares of Coca-Cola Consolidated in the second quarter, valued at approximately $1.35 billion and representing about 24.89% of the company. Institutional investors collectively own 48.24% of COKE.
• Coca-Cola Consolidated reported quarterly earnings of $2.83 per share on $2.05 billion in revenue, with a 7.15% net margin. The company also declared a quarterly dividend of $0.25, equivalent to a 0.5% annualized yield.
• Analyst sentiment remains positive overall, with MarketBeat reporting a consensus “Buy” rating despite one downgrade to “Hold.” COKE shares opened at $186.21, down 1.5%, within a 52-week range of $110.60 to $219.65.

Deutsche Bank AG acquired a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,563,611 shares of the company's stock, valued at approximately $1,346,125,000. Deutsche Bank AG owned about 24.89% of Coca-Cola Consolidated as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its stake in shares of Coca-Cola Consolidated by 19.1% in the first 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 raised its position in shares of Coca-Cola Consolidated by 2.6% in 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 during the period. Wealthfront Advisers LLC lifted its stake in shares of Coca-Cola Consolidated by 4.1% during the 1st quarter. Wealthfront Advisers LLC now owns 1,869 shares of the company's stock valued at $358,000 after buying an additional 73 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of Coca-Cola Consolidated by 8.9% during the 4th quarter. UMB Bank n.a. now owns 951 shares of the company's stock valued at $146,000 after buying an additional 78 shares in the last quarter. Finally, Private Advisor Group LLC boosted its holdings in Coca-Cola Consolidated by 2.2% in the 3rd quarter. Private Advisor Group LLC now owns 4,297 shares of the company's stock worth $503,000 after buying an additional 94 shares during the period. Institutional investors own 48.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on COKE. Weiss Ratings reiterated 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 report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy".

Coca-Cola Consolidated Stock Down 1.5%

Shares of COKE opened at $186.21 on Tuesday. Coca-Cola Consolidated, Inc. has a twelve month low of $110.60 and a twelve month high of $219.65. The stock has a market cap of $12.39 billion, a PE ratio of 24.70 and a beta of 0.55. The business's 50-day moving average price is $184.96 and its 200-day moving average price is $184.96.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 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 declared a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were issued 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%.

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.

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