21,006 Shares in Coca-Cola Consolidated, Inc. $COKE Purchased by Healthcare of Ontario Pension Plan Trust Fund

Key Points

• Healthcare of Ontario Pension Plan Trust Fund purchased 21,006 shares of Coca-Cola Consolidated worth approximately $4.03 million during the first quarter. Institutional investors collectively own 48.24% of the company.
• Coca-Cola Consolidated received a reaffirmed “buy” rating, with the stock opening at $189.83 and trading between a 12-month range of $110.40 and $219.65.
• The company reported quarterly revenue of $1.71 billion and earnings of $1.79 per share, while declaring a quarterly dividend of $0.25, equivalent to a 0.5% annualized yield.

Healthcare of Ontario Pension Plan Trust Fund bought a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 21,006 shares of the company's stock, valued at approximately $4,028,000.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its position in Coca-Cola Consolidated by 6.4% during the 4th quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company's stock worth $871,673,000 after purchasing an additional 341,374 shares in the last quarter. Horizon Investments LLC lifted its holdings in Coca-Cola Consolidated by 1,655,666.7% in the 4th quarter. Horizon Investments LLC now owns 49,673 shares of the company's stock valued at $7,602,000 after purchasing an additional 49,670 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Coca-Cola Consolidated by 1,508.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 18,018 shares of the company's stock worth $2,762,000 after purchasing an additional 16,898 shares during the last quarter. Vest Financial LLC grew its holdings in shares of Coca-Cola Consolidated by 60.8% during the fourth quarter. Vest Financial LLC now owns 232,597 shares of the company's stock worth $35,657,000 after buying an additional 87,912 shares in the last quarter. Finally, James Investment Research Inc. grew its holdings in shares of Coca-Cola Consolidated by 62.2% during the fourth quarter. James Investment Research Inc. now owns 22,412 shares of the company's stock worth $3,436,000 after buying an additional 8,593 shares in the last quarter. 48.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "buy (b)" rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy".

Coca-Cola Consolidated Price Performance

COKE opened at $189.83 on Friday. The stock has a market capitalization of $12.64 billion, a price-to-earnings ratio of 25.97 and a beta of 0.54. The business has a 50-day moving average of $182.34 and a two-hundred day moving average of $181.98. Coca-Cola Consolidated, Inc. has a 12 month low of $110.40 and a 12 month high of $219.65.

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

Coca-Cola Consolidated Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Friday, July 24th. Coca-Cola Consolidated's dividend payout ratio (DPR) is 13.68%.

Coca-Cola Consolidated Profile

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.

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