Coca-Cola Consolidated, Inc. $COKE Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lifted its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 25.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,161 shares of the company’s stock after acquiring an additional 8,674 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Coca-Cola Consolidated were worth $8,276,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. State of Michigan Retirement System raised its position in shares of Coca-Cola Consolidated by 1.5% during the first quarter. State of Michigan Retirement System now owns 13,600 shares of the company’s stock worth $2,608,000 after purchasing an additional 200 shares during the period. Principal Financial Group Inc. boosted its position in shares of Coca-Cola Consolidated by 4.0% in the 1st quarter. Principal Financial Group Inc. now owns 126,479 shares of the company’s stock valued at $24,251,000 after purchasing an additional 4,831 shares during the period. Innealta Capital LLC purchased a new position in Coca-Cola Consolidated in the 1st quarter worth about $359,000. Procyon Advisors LLC purchased a new position in Coca-Cola Consolidated in the 1st quarter worth about $248,000. Finally, International Assets Investment Management LLC acquired a new stake in Coca-Cola Consolidated during the 1st quarter worth about $254,000. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Consolidated Stock Performance

Coca-Cola Consolidated stock opened at $180.74 on Friday. Coca-Cola Consolidated, Inc. has a 52 week low of $110.40 and a 52 week high of $219.65. The firm has a market capitalization of $12.03 billion, a price-to-earnings ratio of 24.73 and a beta of 0.54. The company has a 50 day moving average price of $179.61 and a 200 day moving average price of $179.53.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its earnings results on Wednesday, May 6th. The company reported $1.79 earnings per share (EPS) for the quarter. The company had revenue of $1.71 billion for the quarter. Coca-Cola Consolidated had a net margin of 7.72% and a return on equity of 138.44%.

Coca-Cola Consolidated Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 24th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, July 24th. Coca-Cola Consolidated’s dividend payout ratio is currently 13.68%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

Coca-Cola Consolidated Profile

Founded in 1902 and headquartered in Charlotte, North Carolina, Coca-Cola Consolidated, Inc is the largest independent bottler of Coca-Cola products in the United States. The company manufactures, sells and distributes a broad portfolio of sparkling and still beverages under exclusive agreements with The Coca-Cola Company. Its brand lineup includes Coca-Cola, Diet Coke, Sprite and Fanta, as well as noncarbonated offerings such as Minute Maid juices, Gold Peak teas, Dasani water, Powerade sports drinks and vitaminwater.

Coca-Cola Consolidated’s operations span 14 states and the District of Columbia across the Southeastern, South Central and Mid-Atlantic regions.