Louisiana State Employees Retirement System Raises Stock Holdings in Coca-Cola Consolidated, Inc. $COKE

Key Points

• The Louisiana State Employees Retirement System increased its holdings in Coca-Cola Consolidated, Inc. by 870.6%, owning a total of 16,500 shares worth approximately $1.84 million as of the latest SEC filing.
• Recent analyst reports have upgraded Coca-Cola Consolidated’s rating from "hold" to "buy", with a consensus rating of "buy" according to MarketBeat.
• Coca-Cola Consolidated announced a quarterly dividend of $0.25 per share, representing an annualized yield of 0.8%, payable on November 7th to investors of record on October 24th.

Louisiana State Employees Retirement System increased its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 870.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,500 shares of the company's stock after buying an additional 14,800 shares during the quarter. Louisiana State Employees Retirement System's holdings in Coca-Cola Consolidated were worth $1,842,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Linden Thomas Advisory Services LLC increased its stake in shares of Coca-Cola Consolidated by 3.5% in the first quarter. Linden Thomas Advisory Services LLC now owns 265 shares of the company's stock worth $358,000 after buying an additional 9 shares during the period. State of Alaska Department of Revenue increased its position in Coca-Cola Consolidated by 0.3% during the 1st quarter. State of Alaska Department of Revenue now owns 3,973 shares of the company's stock valued at $5,363,000 after purchasing an additional 10 shares during the period. HBK Sorce Advisory LLC increased its position in Coca-Cola Consolidated by 2.9% during the 1st quarter. HBK Sorce Advisory LLC now owns 357 shares of the company's stock valued at $481,000 after purchasing an additional 10 shares during the period. Monument Capital Management increased its position in Coca-Cola Consolidated by 0.3% during the 1st quarter. Monument Capital Management now owns 3,955 shares of the company's stock valued at $5,339,000 after purchasing an additional 10 shares during the period. Finally, CW Advisors LLC increased its position in Coca-Cola Consolidated by 5.4% during the 1st quarter. CW Advisors LLC now owns 194 shares of the company's stock valued at $262,000 after purchasing an additional 10 shares during the period. 48.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Wall Street Zen raised shares of Coca-Cola Consolidated from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Weiss Ratings raised shares of Coca-Cola Consolidated from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy".

Coca-Cola Consolidated Stock Up 1.0%

NASDAQ:COKE opened at $124.48 on Friday. The firm's 50-day moving average price is $117.42 and its 200-day moving average price is $126.11. The company has a market capitalization of $10.82 billion, a PE ratio of 18.57 and a beta of 0.70. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.04 and a quick ratio of 1.78. Coca-Cola Consolidated, Inc. has a 1-year low of $105.21 and a 1-year high of $146.09.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $2.24 earnings per share for the quarter. The firm 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 company also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, October 24th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.8%. Coca-Cola Consolidated's payout ratio is 14.93%.

Coca-Cola Consolidated Company Profile

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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