VIRGINIA RETIREMENT SYSTEMS ET Al Purchases Shares of 7,830 Coca-Cola Consolidated, Inc. $COKE

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,830 shares of the company’s stock, valued at approximately $1,495,000.

A number of other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of Coca-Cola Consolidated in the second quarter worth approximately $26,229,118,000. Legal & General Group Plc acquired a new stake in Coca-Cola Consolidated during the 2nd quarter valued at approximately $1,978,267,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Coca-Cola Consolidated during the 2nd quarter valued at approximately $1,591,427,000. GQG Partners LLC bought a new position in Coca-Cola Consolidated during the 2nd quarter worth approximately $1,494,498,000. Finally, Deutsche Bank AG bought a new position in Coca-Cola Consolidated during the 2nd quarter worth approximately $1,346,125,000. 48.24% of the stock is currently owned by institutional investors.

Coca-Cola Consolidated Price Performance

Shares of NASDAQ:COKE opened at $192.61 on Friday. The company has a market capitalization of $12.82 billion, a price-to-earnings ratio of 25.55 and a beta of 0.56. The business’s 50-day moving average is $187.03 and its 200-day moving average is $189.05. Coca-Cola Consolidated, Inc. has a 1 year low of $110.60 and a 1 year high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE) last released its earnings results on Wednesday, August 5th. The company reported $2.83 EPS for the quarter. The business had revenue of $2.05 billion during 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 disclosed a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, July 24th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is 13.26%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on COKE shares. 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. Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy”.

Coca-Cola Consolidated Profile

Coca-Cola Consolidated, Inc is the largest Coca-Cola bottler in the United States. Headquartered in Charlotte, North Carolina, the company manufactures, sells, markets and distributes beverages produced under The Coca-Cola Company’s brands, as well as a selection of other beverage products.

Its portfolio includes Coca-Cola, Diet Coke, Coca-Cola Zero Sugar, Sprite, Fanta, DASANI, smartwater, Powerade, Minute Maid, Simply, fairlife and Topo Chico, along with other brands and products available in its distribution territories.