Texas Capital Bank Wealth Management Services Inc Acquires New Position in Coca-Cola Consolidated, Inc. $COKE

Texas Capital Bank Wealth Management Services Inc bought a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, Holdings Channel reports. The institutional investor bought 10,650 shares of the company’s stock, valued at approximately $866,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new position in Coca-Cola Consolidated during the second quarter valued at approximately $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Coca-Cola Consolidated in the 2nd quarter worth approximately $1,591,427,000. Deutsche Bank AG bought a new stake in shares of Coca-Cola Consolidated in the 2nd quarter worth approximately $1,346,125,000. Commerzbank Aktiengesellschaft FI purchased a new stake in shares of Coca-Cola Consolidated in the 2nd quarter valued at $147,857,000. Finally, State Street Corp boosted its stake in shares of Coca-Cola Consolidated by 836.9% in the 2nd quarter. State Street Corp now owns 1,729,065 shares of the company’s stock valued at $193,050,000 after purchasing an additional 1,544,516 shares in the last quarter. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on COKE. Wall Street Zen cut shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy”.

Coca-Cola Consolidated Price Performance

COKE opened at $186.21 on Tuesday. The stock’s 50 day simple moving average is $184.96 and its 200 day simple moving average is $184.96. Coca-Cola Consolidated, Inc. has a 1 year low of $110.60 and a 1 year high of $219.65. The firm has a market cap of $12.39 billion, a price-to-earnings ratio of 24.70 and a beta of 0.55.

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

Coca-Cola Consolidated Announces Dividend

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

Coca-Cola Consolidated 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.