Coca-Cola Consolidated, Inc. $COKE Shares Bought by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio grew its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 777.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,813 shares of the company’s stock after acquiring an additional 15,783 shares during the period. Public Employees Retirement System of Ohio’s holdings in Coca-Cola Consolidated were worth $1,989,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Fifth Third Bancorp lifted its position in shares of Coca-Cola Consolidated by 633.9% during the 2nd quarter. Fifth Third Bancorp now owns 455 shares of the company’s stock valued at $51,000 after acquiring an additional 393 shares during the period. Caitlin John LLC lifted its position in shares of Coca-Cola Consolidated by 2,185.1% during the 2nd quarter. Caitlin John LLC now owns 9,186 shares of the company’s stock valued at $1,026,000 after acquiring an additional 8,784 shares during the period. GAMMA Investing LLC lifted its position in shares of Coca-Cola Consolidated by 668.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,037 shares of the company’s stock valued at $116,000 after acquiring an additional 902 shares during the period. U.S. Capital Wealth Advisors LLC lifted its position in shares of Coca-Cola Consolidated by 663.1% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 19,000 shares of the company’s stock valued at $2,121,000 after acquiring an additional 16,510 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in shares of Coca-Cola Consolidated by 1,314.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 2,828 shares of the company’s stock valued at $316,000 after acquiring an additional 2,628 shares during the period. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Coca-Cola Consolidated from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th.

Coca-Cola Consolidated Stock Up 0.3%

COKE stock opened at $119.30 on Friday. The stock has a market capitalization of $10.37 billion, a P/E ratio of 17.80 and a beta of 0.70. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.78 and a current ratio of 2.04. Coca-Cola Consolidated, Inc. has a one year low of $105.21 and a one year high of $146.09. The company has a 50 day moving average price of $116.66 and a two-hundred day moving average price of $126.53.

Coca-Cola Consolidated (NASDAQ:COKE) last released its earnings results on Thursday, July 24th. The company reported $2.24 EPS for the quarter. The firm had revenue of $1.86 billion during the quarter. Coca-Cola Consolidated had a net margin of 8.43% and a return on equity of 44.91%.

Coca-Cola Consolidated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Friday, July 25th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Friday, July 25th. Coca-Cola Consolidated’s payout ratio is presently 14.93%.

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.