Mackenzie Financial Corp Takes Position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Mackenzie Financial Corp acquired a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 293 shares of the company’s stock, valued at approximately $272,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COKE. Louisiana State Employees Retirement System acquired a new position in Coca-Cola Consolidated during the fourth quarter worth $1,207,000. Mutual of America Capital Management LLC increased its holdings in Coca-Cola Consolidated by 14.5% during the fourth quarter. Mutual of America Capital Management LLC now owns 8,193 shares of the company’s stock worth $7,606,000 after buying an additional 1,037 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Coca-Cola Consolidated during the fourth quarter worth $174,971,000. Nisa Investment Advisors LLC increased its holdings in Coca-Cola Consolidated by 48.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 308 shares of the company’s stock worth $286,000 after buying an additional 100 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in Coca-Cola Consolidated during the fourth quarter worth $40,449,000. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Consolidated Price Performance

Shares of COKE opened at $822.44 on Monday. The company has a market cap of $7.71 billion, a price-to-earnings ratio of 18.92 and a beta of 0.74. Coca-Cola Consolidated, Inc. has a 1-year low of $563.38 and a 1-year high of $961.91. The company’s fifty day simple moving average is $832.10 and its 200 day simple moving average is $807.50. The company has a current ratio of 1.56, a quick ratio of 1.27 and a debt-to-equity ratio of 0.42.

Coca-Cola Consolidated (NASDAQ:COKE) last released its quarterly earnings data on Wednesday, February 21st. The company reported $13.39 EPS for the quarter. Coca-Cola Consolidated had a net margin of 6.14% and a return on equity of 44.12%. The firm had revenue of $1.63 billion during the quarter.

Coca-Cola Consolidated Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $2.00 dividend on an annualized basis and a yield of 0.24%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is 4.60%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Coca-Cola Consolidated from a “buy” rating to a “strong-buy” rating in a report on Friday, February 23rd.

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.