State of Michigan Retirement System Purchases 12,700 Shares of Coca-Cola Consolidated, Inc. $COKE

State of Michigan Retirement System raised its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 907.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,100 shares of the company’s stock after buying an additional 12,700 shares during the quarter. State of Michigan Retirement System’s holdings in Coca-Cola Consolidated were worth $1,574,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Diversified Trust Co boosted its position in shares of Coca-Cola Consolidated by 900.0% in the second quarter. Diversified Trust Co now owns 1,462,487 shares of the company’s stock valued at $163,287,000 after acquiring an additional 1,316,233 shares during the period. Jones Financial Companies Lllp grew its stake in shares of Coca-Cola Consolidated by 265,541.3% in the first quarter. Jones Financial Companies Lllp now owns 502,062 shares of the company’s stock valued at $677,784,000 after acquiring an additional 501,873 shares in the last quarter. Truist Financial Corp increased its position in Coca-Cola Consolidated by 902.4% during the second quarter. Truist Financial Corp now owns 289,493 shares of the company’s stock worth $32,322,000 after acquiring an additional 260,612 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in Coca-Cola Consolidated by 548.0% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 226,905 shares of the company’s stock worth $25,334,000 after acquiring an additional 191,887 shares during the period. Finally, Boston Partners raised its stake in Coca-Cola Consolidated by 676.9% in the 1st quarter. Boston Partners now owns 200,518 shares of the company’s stock worth $270,711,000 after purchasing an additional 174,709 shares in the last quarter. Institutional investors and hedge funds own 48.24% of the company’s stock.

Coca-Cola Consolidated Price Performance

COKE stock opened at $135.61 on Friday. The company’s 50-day moving average price is $122.99 and its two-hundred day moving average price is $125.29. The firm has a market cap of $11.78 billion, a P/E ratio of 19.31 and a beta of 0.69. The company has a quick ratio of 1.78, a current ratio of 2.04 and a debt-to-equity ratio of 0.88. Coca-Cola Consolidated, Inc. has a 12 month low of $105.21 and a 12 month high of $146.09.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $2.06 earnings per share (EPS) for the quarter. The business had revenue of $1.89 billion for the quarter. Coca-Cola Consolidated had a net margin of 8.66% and a return on equity of 44.03%.

Coca-Cola Consolidated Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, October 24th will be paid a $0.25 dividend. The ex-dividend date is Friday, October 24th. This represents a $1.00 annualized dividend and a dividend yield of 0.7%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is presently 14.25%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on COKE shares. Wall Street Zen upgraded shares of Coca-Cola Consolidated from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Weiss Ratings upgraded Coca-Cola Consolidated from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy”.

About Coca-Cola Consolidated

Coca-Cola Consolidated, Inc, together with its subsidiaries, manufactures, markets, and distributes nonalcoholic beverages primarily products of The Coca-Cola Company in the United States. The company offers sparkling beverages; and still beverages, including energy products, as well as noncarbonated beverages comprising bottled water, ready to drink coffee and tea, enhanced water, juices, and sports drinks.