Commerce Bank Invests $52.92 Million in Coca-Cola Consolidated, Inc. $COKE

Commerce Bank bought a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 651,120 shares of the company’s stock, valued at approximately $52,917,000.

Other large investors have also recently modified their holdings of the company. Ascentis Independent Advisors purchased a new stake in Coca-Cola Consolidated during the 1st quarter valued at $31,000. Torren Management LLC purchased a new position in Coca-Cola Consolidated during the fourth quarter worth $29,000. Morse Asset Management Inc bought a new position in Coca-Cola Consolidated during the fourth quarter valued at $31,000. Ballast Advisors LLC bought a new position in Coca-Cola Consolidated during the first quarter valued at $38,000. Finally, Quarry LP bought a new position in Coca-Cola Consolidated during the third quarter valued at $25,000. Institutional investors own 48.24% of the company’s stock.

Analyst Ratings Changes

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

Coca-Cola Consolidated Stock Performance

Shares of NASDAQ COKE opened at $189.10 on Friday. Coca-Cola Consolidated, Inc. has a fifty-two week low of $110.60 and a fifty-two week high of $219.65. The company has a market cap of $12.59 billion, a price-to-earnings ratio of 25.08 and a beta of 0.55. The business’s 50 day moving average price is $185.00 and its 200-day moving average price is $185.77.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 EPS for the quarter. The company had revenue of $2.05 billion for 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 Dividend Announcement

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