12,880 Shares in Coca-Cola Consolidated, Inc. $COKE Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• The Virginia Retirement Systems acquired 12,880 shares of Coca-Cola Consolidated, valued at approximately $1.4 million, during the second quarter.
• Several large investors significantly increased their stakes in Coca-Cola Consolidated, with Diversified Trust Co raising its investment by 900% and Jones Financial Companies by over 265,541%.
• Coca-Cola Consolidated reported earnings of $2.24 per share for the last quarter and announced a quarterly dividend of $0.25 per share, with a dividend yield of 0.8%.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,880 shares of the company's stock, valued at approximately $1,438,000.

A number of other large investors have also recently made changes to their positions in the company. Diversified Trust Co increased its stake in shares of Coca-Cola Consolidated by 900.0% during the second quarter. Diversified Trust Co now owns 1,462,487 shares of the company's stock worth $163,287,000 after buying an additional 1,316,233 shares during the period. Jones Financial Companies Lllp increased its stake in shares of Coca-Cola Consolidated by 265,541.3% during the first quarter. Jones Financial Companies Lllp now owns 502,062 shares of the company's stock worth $677,784,000 after buying an additional 501,873 shares during the period. Truist Financial Corp increased its stake in Coca-Cola Consolidated by 902.4% in the second quarter. Truist Financial Corp now owns 289,493 shares of the company's stock valued at $32,322,000 after purchasing an additional 260,612 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in Coca-Cola Consolidated by 548.0% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 226,905 shares of the company's stock valued at $25,334,000 after purchasing an additional 191,887 shares during the last quarter. Finally, Boston Partners increased its stake in Coca-Cola Consolidated by 676.9% in the first quarter. Boston Partners now owns 200,518 shares of the company's stock valued at $270,711,000 after purchasing an additional 174,709 shares during the last quarter. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Stock Performance

Shares of COKE opened at $129.22 on Thursday. The company has a current ratio of 2.04, a quick ratio of 1.78 and a debt-to-equity ratio of 0.88. The firm has a market cap of $11.23 billion, a PE ratio of 19.28 and a beta of 0.70. The company's 50 day simple moving average is $119.92 and its 200-day simple moving average is $125.84. Coca-Cola Consolidated, Inc. has a 12-month low of $105.21 and a 12-month high of $146.09.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $2.24 earnings per share (EPS) for the quarter. The business had revenue of $1.86 billion for the quarter. Coca-Cola Consolidated had a net margin of 8.43% and a return on equity of 44.91%.

Coca-Cola Consolidated Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, October 24th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, October 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. Coca-Cola Consolidated's dividend payout ratio (DPR) is 14.93%.

Analysts Set New Price Targets

Several equities analysts have commented on COKE shares. Wall Street Zen upgraded shares of Coca-Cola Consolidated from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Weiss Ratings upgraded shares of Coca-Cola Consolidated from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of "Buy".

About Coca-Cola Consolidated

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.

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