Heartland Bank & Trust Co Purchases New Stake in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Heartland Bank & Trust Co. acquired 13,815 shares of Coca-Cola Consolidated in the second quarter, valued at approximately $1.12 million. Institutional investors and hedge funds now own 48.24% of the company.
• Analyst sentiment remains positive overall, with the stock carrying an average “Buy” rating, although Wall Street Zen recently downgraded it to “Hold.” COKE shares opened at $189.10, compared with a 52-week range of $110.60 to $219.65.
• Coca-Cola Consolidated reported quarterly revenue of $2.05 billion and earnings of $2.83 per share. The company also paid a quarterly dividend of $0.25 per share, equivalent to a 0.5% annualized yield.

Heartland Bank & Trust Co bought a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 13,815 shares of the company's stock, valued at approximately $1,123,000.

Several other hedge funds have also recently bought and sold shares of COKE. BlackRock Inc. acquired a new position in shares of Coca-Cola Consolidated in the second quarter valued at approximately $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Coca-Cola Consolidated in the 2nd quarter valued at $1,591,427,000. Deutsche Bank AG bought a new stake in Coca-Cola Consolidated in the 2nd quarter valued at $1,346,125,000. Vanguard Group Inc. grew its holdings in Coca-Cola Consolidated by 6.4% in the 4th quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company's stock valued at $871,673,000 after buying an additional 341,374 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. AG bought a new stake in Coca-Cola Consolidated in the 2nd quarter valued at about $272,683,000. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Coca-Cola Consolidated Price Performance

Shares of NASDAQ:COKE opened at $189.10 on Friday. Coca-Cola Consolidated, Inc. has a one year low of $110.60 and a one year high of $219.65. The firm has a 50 day simple moving average of $185.00 and a 200 day simple moving average of $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 released its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 earnings per share (EPS) for the quarter. The company had revenue of $2.05 billion during 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis 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 currently 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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