Daiichi Life Insurance Co. Ltd. Invests $35.49 Million in Coca-Cola Consolidated, Inc. $COKE

Daiichi Life Insurance Co. Ltd. bought a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 436,668 shares of the company’s stock, valued at approximately $35,488,000. Coca-Cola Consolidated accounts for approximately 0.8% of Daiichi Life Insurance Co. Ltd.’s holdings, making the stock its 27th largest holding.

Several other large investors have also recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Coca-Cola Consolidated by 8.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,251 shares of the company’s stock valued at $23,289,000 after buying an additional 1,385 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Coca-Cola Consolidated by 1,587.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 270 shares of the company’s stock worth $30,000 after acquiring an additional 254 shares during the period. Baird Financial Group Inc. raised its position in shares of Coca-Cola Consolidated by 795.4% in the second quarter. Baird Financial Group Inc. now owns 9,966 shares of the company’s stock worth $1,113,000 after acquiring an additional 8,853 shares during the period. Marshall Wace LLP raised its position in shares of Coca-Cola Consolidated by 5,152.8% in the second quarter. Marshall Wace LLP now owns 18,910 shares of the company’s stock worth $2,111,000 after acquiring an additional 18,550 shares during the period. Finally, Cresset Asset Management LLC boosted its stake in shares of Coca-Cola Consolidated by 169.0% during the 2nd quarter. Cresset Asset Management LLC now owns 4,589 shares of the company’s stock worth $512,000 after acquiring an additional 2,883 shares in the last quarter. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Consolidated Price Performance

NASDAQ COKE opened at $189.10 on Friday. The company has a market cap of $12.59 billion, a PE ratio of 25.08 and a beta of 0.55. The stock’s 50 day simple moving average is $185.00 and its 200-day simple moving average is $185.77. Coca-Cola Consolidated, Inc. has a 1-year low of $110.60 and a 1-year high of $219.65.

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

Coca-Cola Consolidated Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. Wall Street Zen cut Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Coca-Cola Consolidated has a consensus 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.