Flossbach Von Storch SE Makes New $40.49 Million Investment in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Flossbach Von Storch SE acquired 498,232 shares of Coca-Cola Consolidated during the second quarter, worth approximately $40.49 million and representing a 0.75% stake.
• Institutional investors and hedge funds collectively own 48.24% of COKE, with several major firms initiating or increasing positions during the quarter.
• Coca-Cola Consolidated reported quarterly revenue of $2.05 billion and earnings per share of $2.83. The company also maintains a quarterly dividend of $0.25 per share, equivalent to a 0.5% annual yield.

Flossbach Von Storch SE acquired a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 498,232 shares of the company's stock, valued at approximately $40,491,000. Flossbach Von Storch SE owned 0.75% of Coca-Cola Consolidated as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of COKE. BlackRock Inc. purchased a new stake in shares of Coca-Cola Consolidated in the 2nd quarter valued at $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Coca-Cola Consolidated during the 2nd quarter worth about $1,591,427,000. Deutsche Bank AG purchased a new position in shares of Coca-Cola Consolidated during the 2nd quarter valued at about $1,346,125,000. Commerzbank Aktiengesellschaft FI acquired a new position in shares of Coca-Cola Consolidated in the 2nd quarter valued at about $147,857,000. Finally, State Street Corp lifted its holdings in shares of Coca-Cola Consolidated by 836.9% in the 2nd quarter. State Street Corp now owns 1,729,065 shares of the company's stock valued at $193,050,000 after buying an additional 1,544,516 shares during the period. Institutional investors and hedge funds own 48.24% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on COKE. Wall Street Zen cut shares of Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings reiterated a "buy (b)" rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of "Buy".

Coca-Cola Consolidated Stock Down 1.0%

Coca-Cola Consolidated stock opened at $186.84 on Thursday. The company has a fifty day simple moving average of $184.95 and a 200-day simple moving average of $185.50. The firm has a market capitalization of $12.44 billion, a price-to-earnings ratio of 24.78 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 52-week low of $110.60 and a 52-week high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share for the quarter. The firm had revenue of $2.05 billion for 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 Dividend Announcement

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