Louisiana State Employees Retirement System Makes New $1.21 Million Investment in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Louisiana State Employees Retirement System bought a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 1,300 shares of the company’s stock, valued at approximately $1,207,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Coca-Cola Consolidated by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 580,785 shares of the company’s stock worth $369,565,000 after acquiring an additional 19,877 shares during the last quarter. American Century Companies Inc. increased its position in shares of Coca-Cola Consolidated by 3.8% during the 3rd quarter. American Century Companies Inc. now owns 44,460 shares of the company’s stock worth $28,291,000 after purchasing an additional 1,628 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Coca-Cola Consolidated by 36.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 1,173 shares of the company’s stock worth $747,000 after purchasing an additional 311 shares during the last quarter. Invesco Ltd. increased its position in shares of Coca-Cola Consolidated by 4.6% during the 3rd quarter. Invesco Ltd. now owns 114,973 shares of the company’s stock worth $73,160,000 after purchasing an additional 5,084 shares during the last quarter. Finally, Sunbelt Securities Inc. increased its position in shares of Coca-Cola Consolidated by 100.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 74 shares of the company’s stock worth $47,000 after purchasing an additional 37 shares during the last quarter. 48.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com raised Coca-Cola Consolidated from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 23rd.

Coca-Cola Consolidated Stock Up 1.6 %

Shares of NASDAQ:COKE opened at $830.65 on Tuesday. The business has a 50-day moving average price of $834.18 and a 200 day moving average price of $800.98. The company has a current ratio of 1.56, a quick ratio of 1.27 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $7.78 billion, a price-to-earnings ratio of 19.11 and a beta of 0.74. Coca-Cola Consolidated, Inc. has a 12-month low of $552.36 and a 12-month high of $961.91.

Coca-Cola Consolidated (NASDAQ:COKE) last released its earnings results on Wednesday, February 21st. The company reported $13.39 earnings per share for the quarter. The company had revenue of $1.63 billion during the quarter. Coca-Cola Consolidated had a return on equity of 44.12% and a net margin of 6.14%.

Coca-Cola Consolidated Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend is Thursday, April 25th. Coca-Cola Consolidated’s dividend payout ratio is currently 4.60%.

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.