State of Michigan Retirement System Acquires 100 Shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

State of Michigan Retirement System increased its holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKEFree Report) by 9.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,200 shares of the company’s stock after purchasing an additional 100 shares during the quarter. State of Michigan Retirement System’s holdings in Coca-Cola Consolidated were worth $1,016,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Xponance Inc. grew its stake in shares of Coca-Cola Consolidated by 1.8% in the fourth quarter. Xponance Inc. now owns 690 shares of the company’s stock worth $641,000 after purchasing an additional 12 shares during the last quarter. CWM LLC grew its stake in shares of Coca-Cola Consolidated by 22.2% in the fourth quarter. CWM LLC now owns 66 shares of the company’s stock worth $61,000 after purchasing an additional 12 shares during the last quarter. Comerica Bank grew its stake in shares of Coca-Cola Consolidated by 0.9% in the fourth quarter. Comerica Bank now owns 1,554 shares of the company’s stock worth $1,442,000 after purchasing an additional 14 shares during the last quarter. Meritage Portfolio Management grew its stake in shares of Coca-Cola Consolidated by 2.1% in the fourth quarter. Meritage Portfolio Management now owns 743 shares of the company’s stock worth $690,000 after purchasing an additional 15 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in shares of Coca-Cola Consolidated by 1.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 937 shares of the company’s stock worth $870,000 after purchasing an additional 16 shares during the last quarter. 48.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Coca-Cola Consolidated from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 23rd.

Get Our Latest Research Report on COKE

Insider Buying and Selling

In related news, major shareholder Cola Co Coca sold 598,619 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $925.00, for a total value of $553,722,575.00. Following the transaction, the insider now directly owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Coca-Cola Consolidated Stock Down 1.3 %

COKE stock opened at $1,077.53 on Friday. Coca-Cola Consolidated, Inc. has a fifty-two week low of $614.22 and a fifty-two week high of $1,134.49. The business’s 50 day moving average price is $986.93 and its two-hundred day moving average price is $903.73. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.47 and a current ratio of 1.87. The company has a market capitalization of $10.10 billion, a price-to-earnings ratio of 22.19 and a beta of 0.78.

Coca-Cola Consolidated (NASDAQ:COKEGet Free Report) last posted its quarterly earnings results on Monday, May 6th. The company reported $17.31 earnings per share for the quarter. The company had revenue of $1.59 billion for the quarter. Coca-Cola Consolidated had a return on equity of 42.10% and a net margin of 6.83%.

Coca-Cola Consolidated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Friday, April 26th were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $2.00 annualized dividend and a dividend yield of 0.19%. Coca-Cola Consolidated’s payout ratio is currently 4.12%.

Coca-Cola Consolidated Company Profile

(Free Report)

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.

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

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