484,121 Shares in Coca-Cola Consolidated, Inc. $COKE Purchased by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI bought a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, Holdings Channel.com reports. The firm bought 484,121 shares of the company’s stock, valued at approximately $39,551,000.

Other institutional investors also recently modified their holdings of the company. Texas Capital Bank Wealth Management Services Inc purchased a new stake in Coca-Cola Consolidated during the second quarter worth about $866,000. Aegis Wealth Management LLC purchased a new position in Coca-Cola Consolidated in the second quarter valued at about $351,000. Pavion Blue Capital LLC purchased a new position in Coca-Cola Consolidated in the second quarter valued at about $4,294,000. UNIVEST FINANCIAL Corp bought a new position in shares of Coca-Cola Consolidated during the 2nd quarter valued at approximately $767,000. Finally, Grandfield & Dodd LLC bought a new position in shares of Coca-Cola Consolidated during the 2nd quarter valued at approximately $3,574,000. 48.24% of the stock is owned by institutional investors.

Coca-Cola Consolidated Trading Down 1.5%

Shares of NASDAQ:COKE opened at $186.21 on Tuesday. The company has a 50 day moving average of $184.96 and a 200 day moving average of $184.96. The stock has a market cap of $12.39 billion, a P/E ratio of 24.70 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 12 month low of $110.60 and a 12 month high of $219.65.

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. The business 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Friday, July 24th. Coca-Cola Consolidated’s payout ratio is presently 13.26%.

Analysts Set New Price Targets

Several brokerages have weighed in on COKE. Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. Wall Street Zen lowered Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Coca-Cola Consolidated 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.