Texas Capital Bank Wealth Management Services Inc Takes Position in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Texas Capital Bank Wealth Management Services purchased 10,650 shares of Coca-Cola Consolidated during the second quarter, valued at approximately $866,000. Institutional investors currently own 48.24% of the company.
• Coca-Cola Consolidated reported quarterly revenue of $2.05 billion and earnings of $2.83 per share, with a 7.15% net margin. The company also maintains a quarterly dividend of $0.25, equivalent to a 0.5% annual yield.
• COKE shares opened at $186.21, compared with a 52-week range of $110.60 to $219.65. Analyst sentiment remains broadly positive, with an average “Buy” rating despite one recent downgrade to “Hold.”

Texas Capital Bank Wealth Management Services Inc purchased a new position 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 purchased 10,650 shares of the company's stock, valued at approximately $866,000.

A number of other large investors also recently modified their holdings of COKE. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Coca-Cola Consolidated by 8.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,251 shares of the company's stock worth $23,289,000 after purchasing an additional 1,385 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Coca-Cola Consolidated by 1,587.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 270 shares of the company's stock worth $30,000 after buying an additional 254 shares in the last quarter. Baird Financial Group Inc. raised its position in shares of Coca-Cola Consolidated by 795.4% in the second quarter. Baird Financial Group Inc. now owns 9,966 shares of the company's stock worth $1,113,000 after buying an additional 8,853 shares in the last quarter. Marshall Wace LLP boosted its stake in Coca-Cola Consolidated by 5,152.8% during the second quarter. Marshall Wace LLP now owns 18,910 shares of the company's stock valued at $2,111,000 after buying an additional 18,550 shares during the period. Finally, Cresset Asset Management LLC boosted its stake in Coca-Cola Consolidated by 169.0% during the second quarter. Cresset Asset Management LLC now owns 4,589 shares of the company's stock valued at $512,000 after buying an additional 2,883 shares during the period. 48.24% of the stock is currently owned by institutional investors.

Coca-Cola Consolidated Price Performance

Shares of NASDAQ:COKE opened at $186.21 on Tuesday. The company's fifty day moving average price is $184.96 and its 200-day moving average price is $184.96. The firm has a market capitalization of $12.39 billion, a price-to-earnings ratio of 24.70 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a one year low of $110.60 and a one year high of $219.65.

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

Coca-Cola Consolidated Announces Dividend

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 $0.25 dividend. 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 is currently 13.26%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on COKE. 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 reiterated 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, Based on data from MarketBeat, the company presently has an average 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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