California State Teachers Retirement System Purchases 10,838 Shares of Coca-Cola Consolidated, Inc. $COKE

Key Points

• California State Teachers Retirement System increased its Coca-Cola Consolidated stake by 22.3%, purchasing 10,838 shares to hold 59,418 shares valued at approximately $11.4 million.
• Coca-Cola Consolidated reported quarterly revenue of $1.71 billion and earnings of $1.79 per share, with a 7.72% net margin and 138.44% return on equity.
• The company declared a quarterly dividend of $0.25 per share, equal to a $1.00 annualized payout and a 0.6% yield; analysts maintain a generally favorable “Buy” rating.

California State Teachers Retirement System increased its position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 22.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 59,418 shares of the company's stock after buying an additional 10,838 shares during the quarter. California State Teachers Retirement System owned about 0.09% of Coca-Cola Consolidated worth $11,393,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of Coca-Cola Consolidated during the third quarter worth approximately $25,000. Advisory Services Network LLC acquired a new stake in Coca-Cola Consolidated in the 3rd quarter valued at $25,000. Newbridge Financial Services Group Inc. increased its stake in Coca-Cola Consolidated by 900.0% during the 2nd 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. Geneos Wealth Management Inc. increased its stake in Coca-Cola Consolidated by 900.0% during the 2nd 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. Finally, Torren Management LLC acquired a new position in Coca-Cola Consolidated during the fourth quarter worth $29,000. Institutional investors and hedge funds own 48.24% of the company's stock.

Coca-Cola Consolidated Price Performance

NASDAQ COKE opened at $180.76 on Tuesday. The business's fifty day moving average is $182.69 and its 200-day moving average is $182.45. The stock has a market capitalization of $12.03 billion, a price-to-earnings ratio of 24.73 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a one year low of $110.60 and a one year high of $219.65.

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

Coca-Cola Consolidated Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 24th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, July 24th. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. Coca-Cola Consolidated's dividend payout ratio (DPR) is presently 13.68%.

Wall Street Analysts Forecast Growth

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

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.

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