Daiichi Life Insurance Co. Ltd. Makes New $35.49 Million Investment in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Daiichi Life Insurance purchased 436,668 shares of Coca-Cola Consolidated worth approximately $35.5 million, giving it a 0.66% stake and making COKE its 27th-largest holding.
• Coca-Cola Consolidated reported quarterly revenue of $2.05 billion and earnings of $2.83 per share. The company also paid a quarterly dividend of $0.25, equivalent to a 0.5% annualized yield.
• COKE shares opened at $189.10, with a market capitalization of about $12.6 billion. Analysts maintained a consensus “Buy” rating, although Wall Street Zen recently downgraded the stock to “Hold.”

Daiichi Life Insurance Co. Ltd. purchased a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 436,668 shares of the company's stock, valued at approximately $35,488,000. Coca-Cola Consolidated comprises about 0.8% of Daiichi Life Insurance Co. Ltd.'s holdings, making the stock its 27th biggest position. Daiichi Life Insurance Co. Ltd. owned about 0.66% of Coca-Cola Consolidated at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of COKE. Vanguard Group Inc. lifted its holdings in shares of Coca-Cola Consolidated by 6.4% during the 4th quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company's stock valued at $871,673,000 after purchasing an additional 341,374 shares during the last quarter. Catalyst Investment Management LLC purchased a new position in Coca-Cola Consolidated during the 2nd quarter worth $573,000. Horizon Investments LLC grew its stake in Coca-Cola Consolidated by 1,655,666.7% during the 4th quarter. Horizon Investments LLC now owns 49,673 shares of the company's stock worth $7,602,000 after buying an additional 49,670 shares during the last quarter. Vest Financial LLC increased its position in Coca-Cola Consolidated by 60.8% during the 4th quarter. Vest Financial LLC now owns 232,597 shares of the company's stock valued at $35,657,000 after buying an additional 87,912 shares in the last quarter. Finally, James Investment Research Inc. increased its position in Coca-Cola Consolidated by 62.2% during the 4th quarter. James Investment Research Inc. now owns 22,412 shares of the company's stock valued at $3,436,000 after buying an additional 8,593 shares in the last quarter. 48.24% of the stock is currently owned by institutional investors.

Coca-Cola Consolidated Price Performance

NASDAQ:COKE opened at $189.10 on Friday. The company's fifty day moving average price is $185.00 and its 200-day moving average price is $185.77. Coca-Cola Consolidated, Inc. has a 1-year low of $110.60 and a 1-year high of $219.65. The firm has a market capitalization of $12.59 billion, a P/E ratio of 25.08 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share (EPS) for the quarter. Coca-Cola Consolidated had a net margin of 7.15% and a negative return on equity of 1,041.59%. The company had revenue of $2.05 billion during the quarter.

Coca-Cola Consolidated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, July 24th. Coca-Cola Consolidated's payout ratio is 13.26%.

Analysts Set New Price Targets

A number of research firms have commented on COKE. Wall Street Zen cut Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy".

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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