German American Bancorp Inc. Invests $10.48 Million in Coca-Cola Consolidated, Inc. $COKE

German American Bancorp Inc. acquired a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 128,909 shares of the company’s stock, valued at approximately $10,476,000. Coca-Cola Consolidated makes up approximately 0.8% of German American Bancorp Inc.’s investment portfolio, making the stock its 26th biggest holding.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Coca-Cola Consolidated by 6.4% in the fourth quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company’s stock worth $871,673,000 after purchasing an additional 341,374 shares during the period. Horizon Investments LLC increased its stake in Coca-Cola Consolidated by 1,655,666.7% during the 4th quarter. Horizon Investments LLC now owns 49,673 shares of the company’s stock valued at $7,602,000 after buying an additional 49,670 shares during the period. Vest Financial LLC raised its position in shares of Coca-Cola Consolidated by 60.8% during the 4th quarter. Vest Financial LLC now owns 232,597 shares of the company’s stock worth $35,657,000 after buying an additional 87,912 shares in the last quarter. James Investment Research Inc. raised its position in shares of Coca-Cola Consolidated by 62.2% during the 4th quarter. James Investment Research Inc. now owns 22,412 shares of the company’s stock worth $3,436,000 after buying an additional 8,593 shares in the last quarter. Finally, Walleye Capital LLC lifted its stake in shares of Coca-Cola Consolidated by 285.2% in the 1st quarter. Walleye Capital LLC now owns 86,972 shares of the company’s stock worth $16,676,000 after acquiring an additional 64,396 shares during the period. Institutional investors own 48.24% of the company’s stock.

Wall Street Analyst Weigh In

COKE has been the subject of several recent analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. Wall Street Zen downgraded Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Coca-Cola Consolidated Price Performance

NASDAQ COKE opened at $189.11 on Monday. 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 $12.59 billion, a P/E ratio of 25.08 and a beta of 0.55. The company’s 50 day simple moving average is $184.81 and its 200 day simple moving average is $184.70.

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

Coca-Cola Consolidated Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend was Friday, July 24th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is currently 13.26%.

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.