Glenview Trust Co Acquires New Holdings in Coca-Cola Consolidated, Inc. $COKE

Glenview Trust Co bought a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 458,426 shares of the company’s stock, valued at approximately $34,863,000.

Several other hedge funds have also recently bought and sold shares of COKE. BlackRock Inc. acquired a new position in Coca-Cola Consolidated in the 2nd quarter worth $26,229,118,000. Legal & General Group Plc bought a new position in Coca-Cola Consolidated during the 2nd quarter worth about $1,978,267,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Coca-Cola Consolidated in the 2nd quarter valued at about $1,591,427,000. GQG Partners LLC bought a new stake in shares of Coca-Cola Consolidated in the second quarter valued at about $1,494,498,000. Finally, Deutsche Bank AG bought a new stake in shares of Coca-Cola Consolidated in the second quarter valued at about $1,346,125,000. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Coca-Cola Consolidated Trading Up 0.3%

Shares of NASDAQ COKE opened at $194.60 on Friday. Coca-Cola Consolidated, Inc. has a 12 month low of $110.60 and a 12 month high of $219.65. The stock has a 50 day moving average of $185.82 and a 200-day moving average of $187.11. The company has a market capitalization of $12.95 billion, a P/E ratio of 25.81 and a beta of 0.55.

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

The firm also recently declared a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were given 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 of this dividend was Friday, July 24th. 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.