Chancellor Financial Group WB LP Purchases New Stake in Coca-Cola Consolidated, Inc. $COKE

Chancellor Financial Group WB LP purchased a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 5,243 shares of the company’s stock, valued at approximately $426,000.

A number of other large investors have also added to or reduced their stakes in COKE. BlackRock Inc. purchased a new position in shares of Coca-Cola Consolidated in the second quarter valued at about $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Coca-Cola Consolidated during the second quarter worth about $1,591,427,000. Deutsche Bank AG bought a new stake in shares of Coca-Cola Consolidated in the second quarter worth about $1,346,125,000. Commerzbank Aktiengesellschaft FI bought a new stake in shares of Coca-Cola Consolidated in the second quarter worth about $147,857,000. Finally, State Street Corp increased its holdings in Coca-Cola Consolidated by 836.9% during the 2nd quarter. State Street Corp now owns 1,729,065 shares of the company’s stock valued at $193,050,000 after purchasing an additional 1,544,516 shares during the period. Institutional investors own 48.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Wall Street Zen lowered Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research report 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, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

Coca-Cola Consolidated Trading Up 1.3%

Shares of NASDAQ COKE opened at $188.64 on Wednesday. The firm has a fifty day simple moving average of $185.03 and a two-hundred day simple moving average of $185.23. Coca-Cola Consolidated, Inc. has a 12 month low of $110.60 and a 12 month high of $219.65. The firm has a market capitalization of $12.56 billion, a PE ratio of 25.02 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its earnings results 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were issued a $0.25 dividend. The ex-dividend date was Friday, July 24th. This represents a $1.00 annualized dividend and a yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio (DPR) 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.