OVERSEA CHINESE BANKING Corp Ltd Invests $13.34 Million in Coca-Cola Consolidated, Inc. $COKE

Key Points

• OVERSEA CHINESE BANKING Corp Ltd acquired 164,066 shares of Coca-Cola Consolidated worth approximately $13.34 million, representing about 0.25% of the company.
• Institutional ownership stands at 48.24%, with BlackRock, Mitsubishi UFJ Asset Management, Deutsche Bank and other firms also establishing or increasing positions during the second quarter.
• Coca-Cola Consolidated reported quarterly revenue of $2.05 billion and EPS of $2.83, while its shares opened at $187.60. The company also maintains a $0.25 quarterly dividend, equal to a 0.5% annualized yield, and analysts’ consensus rating remains “Buy.”

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 164,066 shares of the company's stock, valued at approximately $13,339,000. OVERSEA CHINESE BANKING Corp Ltd owned about 0.25% of Coca-Cola Consolidated as of its most recent SEC filing.

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

Coca-Cola Consolidated Stock Up 0.4%

Shares of NASDAQ:COKE opened at $187.60 on Friday. The business's 50 day moving average is $184.97 and its 200 day moving average is $185.75. 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 cap of $12.49 billion, a price-to-earnings ratio of 24.88 and a beta of 0.55.

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

Coca-Cola Consolidated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were paid 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 is presently 13.26%.

Analysts Set New Price Targets

COKE has been the topic of a number of recent analyst reports. Wall Street Zen lowered Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a research note 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 research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently 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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