Comerica Bank Cuts Holdings in Coca-Cola Bottling Co. Consolidated (COKE)

Comerica Bank lowered its position in shares of Coca-Cola Bottling Co. Consolidated (NASDAQ:COKE) by 19.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,120 shares of the company’s stock after selling 1,017 shares during the quarter. Comerica Bank’s holdings in Coca-Cola Bottling Co. Consolidated were worth $982,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in COKE. Profund Advisors LLC acquired a new stake in Coca-Cola Bottling Co. Consolidated during the first quarter valued at approximately $201,000. Capstone Asset Management Co. acquired a new stake in Coca-Cola Bottling Co. Consolidated during the first quarter valued at approximately $204,000. State of Alaska Department of Revenue raised its stake in Coca-Cola Bottling Co. Consolidated by 80.6% during the second quarter. State of Alaska Department of Revenue now owns 921 shares of the company’s stock valued at $210,000 after buying an additional 411 shares in the last quarter. Mason Street Advisors LLC acquired a new stake in Coca-Cola Bottling Co. Consolidated during the first quarter valued at approximately $224,000. Finally, BNP Paribas Arbitrage SA raised its stake in Coca-Cola Bottling Co. Consolidated by 115.5% during the first quarter. BNP Paribas Arbitrage SA now owns 1,129 shares of the company’s stock valued at $233,000 after buying an additional 605 shares in the last quarter. Hedge funds and other institutional investors own 37.33% of the company’s stock.

Shares of Coca-Cola Bottling Co. Consolidated (NASDAQ:COKE) opened at 211.39 on Wednesday. The firm has a market cap of $1.97 billion, a PE ratio of 43.18 and a beta of 0.06. Coca-Cola Bottling Co. Consolidated has a 52 week low of $125.00 and a 52 week high of $249.54. The firm’s 50-day moving average price is $215.21 and its 200 day moving average price is $214.64.

Coca-Cola Bottling Co. Consolidated (NASDAQ:COKE) last released its earnings results on Tuesday, August 8th. The company reported $2.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $4.10 by ($1.74). Coca-Cola Bottling Co. Consolidated had a net margin of 1.23% and a return on equity of 15.49%. The company had revenue of $1.17 billion during the quarter. Equities analysts anticipate that Coca-Cola Bottling Co. Consolidated will post $8.86 EPS for the current year.

Separately, BidaskClub upgraded Coca-Cola Bottling Co. Consolidated from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th.

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About Coca-Cola Bottling Co. Consolidated

Coca-Cola Bottling Co Consolidated produces, markets and distributes nonalcoholic beverages. The Company is an independent Coca-Cola bottler in the United States. The Company’s segments include Nonalcoholic Beverages and All Other. Majority of its total bottle/can volume to retail customers consist of products of The Coca-Cola Company.

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Institutional Ownership by Quarter for Coca-Cola Bottling Co. Consolidated (NASDAQ:COKE)

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