Maryland State Retirement & Pension System Boosts Holdings in Coca-Cola Consolidated, Inc. $COKE

Key Points

• The Maryland State Retirement & Pension System increased its stake in Coca-Cola Consolidated, Inc. by 900% in Q2, owning 2,820 shares valued at $315,000.
• Coca-Cola Consolidated declared a quarterly dividend of $0.25, with an annualized yield of 0.8%, set to be paid on November 7th.
• Analysts have upgraded Coca-Cola Consolidated's stock rating to buy, with a significant return on equity of 44.91%.

Maryland State Retirement & Pension System lifted its stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 900.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,820 shares of the company's stock after buying an additional 2,538 shares during the period. Maryland State Retirement & Pension System's holdings in Coca-Cola Consolidated were worth $315,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Wayfinding Financial LLC acquired a new stake in Coca-Cola Consolidated during the 1st quarter worth $46,000. Semmax Financial Advisors Inc. acquired a new stake in Coca-Cola Consolidated during the 1st quarter worth $50,000. Allworth Financial LP boosted its stake in Coca-Cola Consolidated by 58.3% during the 1st quarter. Allworth Financial LP now owns 57 shares of the company's stock worth $79,000 after purchasing an additional 21 shares during the period. Fifth Third Bancorp boosted its stake in Coca-Cola Consolidated by 40.9% during the 1st quarter. Fifth Third Bancorp now owns 62 shares of the company's stock worth $84,000 after purchasing an additional 18 shares during the period. Finally, Spire Wealth Management boosted its stake in Coca-Cola Consolidated by 115.6% during the 1st quarter. Spire Wealth Management now owns 69 shares of the company's stock worth $92,000 after purchasing an additional 37 shares during the period. Institutional investors and hedge funds own 48.24% of the company's stock.

Coca-Cola Consolidated Stock Performance

Shares of COKE opened at $126.70 on Wednesday. The company has a 50-day simple moving average of $117.97 and a 200-day simple moving average of $126.02. The company has a quick ratio of 1.78, a current ratio of 2.04 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $11.01 billion, a PE ratio of 18.90 and a beta of 0.70. Coca-Cola Consolidated, Inc. has a 52-week low of $105.21 and a 52-week high of $146.09.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last announced its quarterly 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 during the quarter. Coca-Cola Consolidated had a net margin of 8.43% and a return on equity of 44.91%.

Coca-Cola Consolidated Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on COKE shares. 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. 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. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy".

Coca-Cola Consolidated 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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