Sumitomo Life Insurance Co. Acquires New Position in Coca-Cola Consolidated, Inc. $COKE

Sumitomo Life Insurance Co. bought a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 44,829 shares of the company’s stock, valued at approximately $3,643,000. Sumitomo Life Insurance Co. owned 0.07% of Coca-Cola Consolidated as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of Coca-Cola Consolidated in the second quarter valued at approximately $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Coca-Cola Consolidated in the 2nd quarter worth approximately $1,591,427,000. Deutsche Bank AG bought a new position in Coca-Cola Consolidated in the 2nd quarter worth approximately $1,346,125,000. B. Metzler seel. Sohn & Co. AG purchased a new position in Coca-Cola Consolidated in the 2nd quarter valued at approximately $272,683,000. Finally, Korea Investment CORP bought a new stake in Coca-Cola Consolidated during the 2nd quarter valued at $200,172,000. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Up 0.8%

NASDAQ:COKE opened at $189.10 on Friday. The firm has a market capitalization of $12.59 billion, a P/E ratio of 25.08 and a beta of 0.55. The company has a fifty day moving average of $185.00 and a 200 day moving average of $185.77. Coca-Cola Consolidated, Inc. has a 52 week low of $110.60 and a 52 week high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 earnings per share for the quarter. The business had revenue of $2.05 billion during the quarter. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%.

Coca-Cola Consolidated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Friday, July 24th. Coca-Cola Consolidated’s dividend payout ratio is currently 13.26%.

Wall Street Analysts Forecast Growth

COKE has been the subject of a number of analyst reports. Wall Street Zen lowered shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reissued 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 data from MarketBeat.com, Coca-Cola Consolidated presently has an average rating of “Buy”.

About Coca-Cola Consolidated

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.