Caisse de depot et placement du Quebec Makes New Investment in Coca-Cola Consolidated, Inc. $COKE

Caisse de depot et placement du Quebec acquired a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, HoldingsChannel.com reports. The fund acquired 3,582,530 shares of the company’s stock, valued at approximately $291,152,000. Caisse de depot et placement du Quebec owned about 0.05% of Coca-Cola Consolidated as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Coca-Cola Consolidated in the 2nd quarter worth approximately $26,229,118,000. Legal & General Group Plc acquired a new position in Coca-Cola Consolidated during the second quarter valued at approximately $1,978,267,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Coca-Cola Consolidated during the second quarter valued at approximately $1,591,427,000. GQG Partners LLC bought a new position in shares of Coca-Cola Consolidated in the second quarter valued at approximately $1,494,498,000. Finally, Deutsche Bank AG bought a new position in shares of Coca-Cola Consolidated in the second quarter valued at approximately $1,346,125,000. 48.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. Wall Street Zen downgraded shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy”.

Coca-Cola Consolidated Stock Performance

NASDAQ COKE opened at $196.53 on Wednesday. The stock has a 50-day simple moving average of $185.35 and a 200 day simple moving average of $186.58. Coca-Cola Consolidated, Inc. has a twelve month low of $110.60 and a twelve month high of $219.65. The stock has a market capitalization of $13.08 billion, a PE ratio of 26.07 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE) last released its earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share (EPS) for the quarter. The firm had revenue of $2.05 billion for 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 business also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were paid a $0.25 dividend. The ex-dividend date was Friday, July 24th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is presently 13.26%.

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.