United Bank Purchases Shares of 92,618 Coca-Cola Consolidated, Inc. $COKE

United Bank acquired a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 92,618 shares of the company’s stock, valued at approximately $7,527,000. Coca-Cola Consolidated accounts for 2.3% of United Bank’s holdings, making the stock its 11th biggest holding. United Bank owned 0.14% of Coca-Cola Consolidated as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of Coca-Cola Consolidated during the second quarter worth approximately $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Coca-Cola Consolidated in the second quarter worth approximately $1,591,427,000. Deutsche Bank AG acquired a new position in Coca-Cola Consolidated during the 2nd quarter worth approximately $1,346,125,000. Vanguard Group Inc. increased its position in shares of Coca-Cola Consolidated by 6.4% in the 4th quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company’s stock valued at $871,673,000 after purchasing an additional 341,374 shares during the last quarter. Finally, Boston Partners raised its holdings in shares of Coca-Cola Consolidated by 7.8% in the 4th quarter. Boston Partners now owns 2,329,643 shares of the company’s stock valued at $357,091,000 after purchasing an additional 169,555 shares in the last quarter. 48.24% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Consolidated Stock Performance

Shares of NASDAQ COKE opened at $186.84 on Thursday. The stock’s 50-day simple moving average is $184.95 and its 200-day simple moving average is $185.50. The firm has a market capitalization of $12.44 billion, a PE ratio of 24.78 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a fifty-two week low of $110.60 and a fifty-two week high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share (EPS) for the quarter. The firm had revenue of $2.05 billion during 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 business also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Friday, July 24th. Coca-Cola Consolidated’s payout ratio is currently 13.26%.

Wall Street Analysts Forecast Growth

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