New York State Teachers Retirement System Boosts Holdings in Coca-Cola Consolidated, Inc. $COKE

Key Points

• The New York State Teachers Retirement System increased its stake in Coca-Cola Consolidated by 915.5% during the 2nd quarter, owning approximately 74,119 shares valued at about $8.3 million.
• Several hedge funds have significantly boosted their investments in Coca-Cola Consolidated, with Davis Investment Partners LLC growing its holdings by 980%, indicating strong institutional interest in the company.
• Analysts have upgraded Coca-Cola Consolidated stock from a "hold" to a "buy" rating, with a consensus rating of "Buy", reflecting positive market sentiment.

New York State Teachers Retirement System raised its holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 915.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,119 shares of the company's stock after buying an additional 66,820 shares during the quarter. New York State Teachers Retirement System owned approximately 0.09% of Coca-Cola Consolidated worth $8,275,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Davis Investment Partners LLC grew its holdings in Coca-Cola Consolidated by 980.0% in the 2nd quarter. Davis Investment Partners LLC now owns 5,400 shares of the company's stock valued at $624,000 after buying an additional 4,900 shares during the period. Victory Capital Management Inc. grew its holdings in Coca-Cola Consolidated by 33.2% in the 1st quarter. Victory Capital Management Inc. now owns 11,310 shares of the company's stock valued at $15,268,000 after buying an additional 2,821 shares during the period. Jones Financial Companies Lllp grew its holdings in Coca-Cola Consolidated by 265,541.3% in the 1st quarter. Jones Financial Companies Lllp now owns 502,062 shares of the company's stock valued at $677,784,000 after buying an additional 501,873 shares during the period. Bank of New York Mellon Corp grew its holdings in Coca-Cola Consolidated by 4.4% in the 1st quarter. Bank of New York Mellon Corp now owns 60,812 shares of the company's stock valued at $82,097,000 after buying an additional 2,545 shares during the period. Finally, Gallacher Capital Management LLC purchased a new stake in Coca-Cola Consolidated in the 2nd quarter valued at about $252,000. Hedge funds and other institutional investors own 48.24% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Weiss Ratings upgraded Coca-Cola Consolidated from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, October 8th. Wall Street Zen upgraded Coca-Cola Consolidated from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of "Buy".

Coca-Cola Consolidated Stock Up 0.8%

NASDAQ COKE opened at $131.68 on Monday. The stock has a market cap of $11.44 billion, a PE ratio of 19.65 and a beta of 0.70. Coca-Cola Consolidated, Inc. has a fifty-two week low of $105.21 and a fifty-two week high of $146.09. The business has a 50 day moving average price of $118.91 and a two-hundred day moving average price of $125.75. The company has a quick ratio of 1.78, a current ratio of 2.04 and a debt-to-equity ratio of 0.88.

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

Coca-Cola Consolidated Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Shareholders 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 yield of 0.8%. The ex-dividend date is Friday, October 24th. Coca-Cola Consolidated's dividend payout ratio is currently 14.93%.

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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