Maryland State Retirement & Pension System Acquires Shares of 459 Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Maryland State Retirement & Pension System bought a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 459 shares of the company’s stock, valued at approximately $498,000.

A number of other large investors have also made changes to their positions in the stock. EntryPoint Capital LLC purchased a new stake in Coca-Cola Consolidated in the 1st quarter valued at $30,000. Quest Partners LLC acquired a new position in shares of Coca-Cola Consolidated during the 4th quarter valued at about $31,000. EverSource Wealth Advisors LLC boosted its position in shares of Coca-Cola Consolidated by 102.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 69 shares of the company’s stock valued at $57,000 after acquiring an additional 35 shares during the last quarter. CWM LLC grew its holdings in shares of Coca-Cola Consolidated by 22.2% in the fourth quarter. CWM LLC now owns 66 shares of the company’s stock valued at $61,000 after purchasing an additional 12 shares during the period. Finally, GAMMA Investing LLC increased its position in Coca-Cola Consolidated by 137.0% during the second quarter. GAMMA Investing LLC now owns 64 shares of the company’s stock worth $69,000 after purchasing an additional 37 shares during the last quarter. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Stock Down 1.0 %

Shares of NASDAQ:COKE opened at $1,328.84 on Wednesday. The company has a market capitalization of $12.46 billion, a price-to-earnings ratio of 27.36 and a beta of 0.78. Coca-Cola Consolidated, Inc. has a 12-month low of $614.22 and a 12-month high of $1,374.25. The business has a 50-day moving average price of $1,188.30 and a 200 day moving average price of $997.68. The company has a current ratio of 1.97, a quick ratio of 1.75 and a debt-to-equity ratio of 1.50.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $20.71 earnings per share for the quarter. The business had revenue of $1.80 billion during the quarter. Coca-Cola Consolidated had a net margin of 7.52% and a return on equity of 44.83%.

Coca-Cola Consolidated Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were given a dividend of $0.50 per share. The ex-dividend date was Friday, July 26th. This represents a $2.00 annualized dividend and a dividend yield of 0.15%. Coca-Cola Consolidated’s dividend payout ratio is currently 20.59%.

Analyst Upgrades and Downgrades

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

Insider Activity at Coca-Cola Consolidated

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

Coca-Cola Consolidated Profile

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.