16,400 Shares in Coca-Cola Consolidated, Inc. $COKE Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 16,400 shares of the company’s stock, valued at approximately $3,145,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of 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 worth $23,289,000 after buying an additional 1,385 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Coca-Cola Consolidated by 1,587.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 270 shares of the company’s stock worth $30,000 after acquiring an additional 254 shares in the last quarter. Baird Financial Group Inc. boosted its holdings in shares of Coca-Cola Consolidated by 795.4% in the 2nd 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 in the last quarter. Marshall Wace LLP grew its position in Coca-Cola Consolidated by 5,152.8% during the 2nd 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 last quarter. Finally, Cresset Asset Management LLC grew its position in 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 during the last quarter. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Wednesday. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Coca-Cola Consolidated presently has an average rating of “Buy”.

Coca-Cola Consolidated Stock Performance

Shares of NASDAQ COKE opened at $188.03 on Monday. Coca-Cola Consolidated, Inc. has a 1-year low of $109.42 and a 1-year high of $219.65. The company has a 50-day moving average of $182.46 and a two-hundred day moving average of $177.52. The company has a market cap of $12.52 billion, a PE ratio of 25.72 and a beta of 0.55. The company has a current ratio of 1.23, a quick ratio of 0.91 and a debt-to-equity ratio of 0.88.

Coca-Cola Consolidated (NASDAQ:COKE) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.79 EPS for the quarter. The business had revenue of $1.71 billion for the quarter. Coca-Cola Consolidated had a net margin of 7.72% and a return on equity of 138.44%.

Coca-Cola Consolidated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, April 24th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, April 24th. This represents a $1.00 annualized dividend and a yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio is currently 13.68%.

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.