OMERS ADMINISTRATION Corp Invests $106.59 Million in Coca-Cola Consolidated, Inc. $COKE

OMERS ADMINISTRATION Corp purchased a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,311,616 shares of the company’s stock, valued at approximately $106,595,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Bessemer Group Inc. increased its position in Coca-Cola Consolidated by 19.1% during the first quarter. Bessemer Group Inc. now owns 331 shares of the company’s stock worth $63,000 after buying an additional 53 shares during the last quarter. Beacon Pointe Advisors LLC raised its holdings in Coca-Cola Consolidated by 2.6% during the fourth quarter. Beacon Pointe Advisors LLC now owns 2,842 shares of the company’s stock valued at $436,000 after buying an additional 72 shares in the last quarter. Wealthfront Advisers LLC raised its holdings in Coca-Cola Consolidated by 4.1% during the first quarter. Wealthfront Advisers LLC now owns 1,869 shares of the company’s stock valued at $358,000 after buying an additional 73 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Coca-Cola Consolidated by 8.9% in the fourth quarter. UMB Bank n.a. now owns 951 shares of the company’s stock worth $146,000 after buying an additional 78 shares during the last quarter. Finally, Private Advisor Group LLC lifted its position in shares of Coca-Cola Consolidated by 2.2% in the third quarter. Private Advisor Group LLC now owns 4,297 shares of the company’s stock worth $503,000 after buying an additional 94 shares during the last quarter. Institutional investors and hedge funds own 48.24% of the company’s stock.

Wall Street Analysts Forecast Growth

COKE has been the topic of a number of analyst reports. Wall Street Zen lowered Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Coca-Cola Consolidated currently has a consensus rating of “Buy”.

Coca-Cola Consolidated Stock Performance

NASDAQ:COKE opened at $189.10 on Monday. The firm has a market capitalization of $12.59 billion, a PE ratio of 25.08 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 1 year low of $110.60 and a 1 year high of $219.65. The firm’s fifty day simple moving average is $185.00 and its 200 day simple moving average is $185.99.

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

Coca-Cola Consolidated Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were paid a $0.25 dividend. The ex-dividend date 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%.

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.