Illinois Municipal Retirement Fund Acquires 7,540 Shares of Coca-Cola Consolidated, Inc. $COKE

Illinois Municipal Retirement Fund raised its holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 21.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 42,730 shares of the company’s stock after acquiring an additional 7,540 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Coca-Cola Consolidated were worth $5,006,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COKE. Nomura Asset Management Co. Ltd. grew its holdings in shares of Coca-Cola Consolidated by 900.0% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the company’s stock valued at $26,000 after acquiring an additional 207 shares in the last quarter. Root Financial Partners LLC bought a new stake in Coca-Cola Consolidated during the third quarter worth about $26,000. Smartleaf Asset Management LLC boosted its position in Coca-Cola Consolidated by 175.0% during the third quarter. Smartleaf Asset Management LLC now owns 220 shares of the company’s stock valued at $26,000 after purchasing an additional 140 shares during the last quarter. Newbridge Financial Services Group Inc. grew its stake in Coca-Cola Consolidated by 900.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company’s stock valued at $26,000 after purchasing an additional 207 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in Coca-Cola Consolidated by 900.0% in the second quarter. Geneos Wealth Management Inc. now owns 250 shares of the company’s stock valued at $28,000 after purchasing an additional 225 shares in the last quarter. 48.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy”.

Coca-Cola Consolidated Trading Down 1.1%

Coca-Cola Consolidated stock opened at $161.91 on Friday. The stock has a 50-day simple moving average of $156.02 and a 200 day simple moving average of $138.77. The stock has a market capitalization of $13.84 billion, a P/E ratio of 23.05 and a beta of 0.64. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.79 and a current ratio of 2.04. Coca-Cola Consolidated, Inc. has a 52 week low of $105.21 and a 52 week high of $169.49.

Coca-Cola Consolidated Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 6th. Investors of record on Friday, January 23rd were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.6%. Coca-Cola Consolidated’s payout ratio is presently 14.25%.

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.