Coca-Cola Consolidated, Inc. $COKE Shares Acquired by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund increased its position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 19.5% during the third quarter, Holdings Channel reports. The institutional investor owned 43,776 shares of the company’s stock after purchasing an additional 7,147 shares during the period. Illinois Municipal Retirement Fund’s holdings in Coca-Cola Consolidated were worth $8,285,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in COKE. North Dakota State Investment Board boosted its holdings in Coca-Cola Consolidated by 3.0% in the third quarter. North Dakota State Investment Board now owns 1,735 shares of the company’s stock worth $328,000 after acquiring an additional 50 shares in the last quarter. Csenge Advisory Group increased its holdings in shares of Coca-Cola Consolidated by 2.5% during the third quarter. Csenge Advisory Group now owns 2,061 shares of the company’s stock valued at $390,000 after acquiring an additional 50 shares in the last quarter. Bessemer Group Inc. raised its position in shares of Coca-Cola Consolidated by 19.1% during the first quarter. Bessemer Group Inc. now owns 331 shares of the company’s stock worth $63,000 after purchasing an additional 53 shares during the period. Affinity Capital Advisors LLC raised its position in shares of Coca-Cola Consolidated by 4.0% during the third quarter. Affinity Capital Advisors LLC now owns 1,458 shares of the company’s stock worth $286,000 after purchasing an additional 56 shares during the period. Finally, Concurrent Investment Advisors LLC lifted its holdings in shares of Coca-Cola Consolidated by 4.9% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 1,228 shares of the company’s stock worth $234,000 after purchasing an additional 57 shares in the last quarter. 48.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on COKE. Weiss Ratings raised shares of Coca-Cola Consolidated from a “buy (b)” rating to a “buy (b+)” rating in a research report on Friday, October 16th. 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, Coca-Cola Consolidated currently has a consensus rating of “Buy”.

Coca-Cola Consolidated Stock Performance

Shares of COKE opened at $207.00 on Friday. The firm has a market capitalization of $13.78 billion, a P/E ratio of 24.24 and a beta of 0.56. Coca-Cola Consolidated, Inc. has a 52 week low of $142.83 and a 52 week high of $219.99. The stock has a 50 day moving average price of $199.69 and a two-hundred day moving average price of $189.01.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its earnings results on Wednesday, November 4th. The company reported $2.63 earnings per share (EPS) for the quarter. Coca-Cola Consolidated had a negative return on equity of 115.21% and a net margin of 7.49%. The company had revenue of $1.99 billion for the quarter.

Coca-Cola Consolidated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 6th. Stockholders of record on Friday, October 23rd were paid a $0.25 dividend. The ex-dividend date was Friday, October 23rd. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio is presently 11.71%.

Coca-Cola Consolidated Company Profile

Coca-Cola Consolidated, Inc. is a beverage bottler, manufacturer and distributor headquartered in Charlotte, North Carolina. The company traces its roots to 1902 and is the largest independent Coca-Cola bottler in the United States. Its business includes producing, selling and distributing a wide range of nonalcoholic beverages. Its portfolio includes Coca-Cola products and other brands such as Sprite, Fanta, Dasani and Powerade, along with beverages from additional brand partners. Coca-Cola Consolidated serves customers across portions of the Southeast, Mid-Atlantic and Midwest, including parts of 14 states and the District of Columbia.