United Bank Makes New $7.53 Million Investment in Coca-Cola Consolidated, Inc. $COKE

United Bank bought a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 92,618 shares of the company’s stock, valued at approximately $7,527,000. Coca-Cola Consolidated makes up about 2.3% of United Bank’s investment portfolio, making the stock its 11th largest holding.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP acquired a new stake in shares of Coca-Cola Consolidated in the 3rd quarter valued at about $25,000. Advisory Services Network LLC acquired a new position in Coca-Cola Consolidated during the third quarter worth approximately $25,000. J.Safra Asset Management Corp acquired a new position in Coca-Cola Consolidated during the second quarter worth approximately $26,000. Newbridge Financial Services Group Inc. lifted its stake in Coca-Cola Consolidated by 900.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company’s stock valued at $26,000 after buying an additional 207 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in Coca-Cola Consolidated by 900.0% in the second quarter. Geneos Wealth Management Inc. now owns 250 shares of the company’s stock valued at $28,000 after buying an additional 225 shares during the last quarter. 48.24% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Stock Performance

Shares of COKE opened at $186.84 on Thursday. 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 capitalization of $12.44 billion, a price-to-earnings ratio of 24.78 and a beta of 0.55. The firm has a 50-day simple moving average of $184.95 and a 200-day simple moving average of $185.50.

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

Analyst Upgrades and Downgrades

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