United Bank Purchases Shares of 92,618 Coca-Cola Consolidated, Inc. $COKE

Key Points

• United Bank acquired 92,618 shares of Coca-Cola Consolidated in the second quarter, valued at approximately $7.5 million and representing 0.14% of the company. Institutional investors and hedge funds collectively own 48.24% of the stock.
• 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, equating to a 0.5% annualized yield.
• COKE shares opened at $186.84, with a market capitalization of $12.44 billion and a 52-week range of $110.60 to $219.65. Analyst coverage remains generally positive, with MarketBeat reporting a consensus “Buy” rating despite one recent downgrade to “Hold.”

United Bank acquired a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 92,618 shares of the company's stock, valued at approximately $7,527,000. Coca-Cola Consolidated accounts for 2.3% of United Bank's holdings, making the stock its 11th biggest holding. United Bank owned 0.14% of Coca-Cola Consolidated as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of Coca-Cola Consolidated during the second quarter worth approximately $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Coca-Cola Consolidated in the second quarter worth approximately $1,591,427,000. Deutsche Bank AG acquired a new position in Coca-Cola Consolidated during the 2nd quarter worth approximately $1,346,125,000. Vanguard Group Inc. increased its position in shares of 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 purchasing an additional 341,374 shares during the last quarter. Finally, Boston Partners raised its holdings in shares of Coca-Cola Consolidated by 7.8% in the 4th quarter. Boston Partners now owns 2,329,643 shares of the company's stock valued at $357,091,000 after purchasing an additional 169,555 shares in the last quarter. 48.24% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Consolidated Stock Performance

Shares of NASDAQ COKE opened at $186.84 on Thursday. The stock's 50-day simple moving average is $184.95 and its 200-day simple moving average is $185.50. The firm has a market capitalization of $12.44 billion, a PE ratio of 24.78 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a fifty-two week low of $110.60 and a fifty-two week high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share (EPS) for the quarter. The firm 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Friday, July 24th. Coca-Cola Consolidated's payout ratio is currently 13.26%.

Wall Street Analysts Forecast Growth

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

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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