Commerzbank Aktiengesellschaft FI Takes Position in Coca-Cola Consolidated, Inc. $COKE

Commerzbank Aktiengesellschaft FI acquired a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,819,326 shares of the company’s stock, valued at approximately $147,857,000. Coca-Cola Consolidated accounts for 3.0% of Commerzbank Aktiengesellschaft FI’s investment portfolio, making the stock its 11th largest holding.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Phillips Wealth Planners LLC purchased a new stake in Coca-Cola Consolidated during the second quarter worth about $1,219,000. Trust Co. of Vermont purchased a new position in Coca-Cola Consolidated in the second quarter valued at about $4,674,000. Principle Wealth Partners LLC purchased a new position in Coca-Cola Consolidated in the second quarter valued at about $8,908,000. UP Strategic Wealth Investment Advisors LLC acquired a new stake in shares of Coca-Cola Consolidated during the 2nd quarter valued at approximately $520,000. Finally, Requisite Capital Management LLC purchased a new stake in shares of Coca-Cola Consolidated during the 2nd quarter worth approximately $412,000. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. Wall Street Zen cut 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, the stock has an average rating of “Buy”.

Coca-Cola Consolidated Price Performance

Shares of NASDAQ COKE opened at $186.21 on Tuesday. Coca-Cola Consolidated, Inc. has a 12-month low of $110.60 and a 12-month high of $219.65. The company has a market capitalization of $12.39 billion, a PE ratio of 24.70 and a beta of 0.55. The firm’s 50-day moving average is $184.96 and its two-hundred day moving average is $184.96.

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

Coca-Cola Consolidated Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were issued 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 was Friday, July 24th. Coca-Cola Consolidated’s dividend payout ratio is 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.