Nippon Life Global Investors Americas Inc. Buys Shares of 178,280 Coca-Cola Consolidated, Inc. $COKE

Key Points

• Nippon Life Global Investors Americas purchased 178,280 shares of Coca-Cola Consolidated in the second quarter, worth approximately $14.54 million and representing about 0.27% of the company.
• Several other institutional investors increased their holdings, with institutional investors and hedge funds collectively owning 48.24% of Coca-Cola Consolidated.
• Coca-Cola Consolidated reported quarterly revenue of $2.05 billion and earnings per share of $2.83, while maintaining a quarterly dividend of $0.25 per share. Analysts’ consensus rating remains “Buy,” despite one recent downgrade to “Hold.”

Nippon Life Global Investors Americas Inc. purchased a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 178,280 shares of the company's stock, valued at approximately $14,540,000. Nippon Life Global Investors Americas Inc. owned approximately 0.27% of Coca-Cola Consolidated at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of COKE. Vanguard Group Inc. increased its position in shares of Coca-Cola Consolidated by 6.4% during the fourth quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company's stock worth $871,673,000 after acquiring an additional 341,374 shares in the last quarter. Horizon Investments LLC lifted its position in Coca-Cola Consolidated by 1,655,666.7% in the 4th quarter. Horizon Investments LLC now owns 49,673 shares of the company's stock valued at $7,602,000 after acquiring an additional 49,670 shares in the last quarter. Vest Financial LLC lifted its position in Coca-Cola Consolidated by 60.8% in the 4th quarter. Vest Financial LLC now owns 232,597 shares of the company's stock valued at $35,657,000 after acquiring an additional 87,912 shares in the last quarter. James Investment Research Inc. lifted its position in Coca-Cola Consolidated by 62.2% in the 4th quarter. James Investment Research Inc. now owns 22,412 shares of the company's stock valued at $3,436,000 after acquiring an additional 8,593 shares in the last quarter. Finally, Walleye Capital LLC boosted its stake in Coca-Cola Consolidated by 285.2% in the 1st quarter. Walleye Capital LLC now owns 86,972 shares of the company's stock worth $16,676,000 after purchasing an additional 64,396 shares during the period. Institutional investors and hedge funds own 48.24% of the company's stock.

Coca-Cola Consolidated Price Performance

NASDAQ:COKE opened at $189.11 on Monday. The company has a market cap of $12.59 billion, a P/E ratio of 25.08 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a twelve month low of $110.60 and a twelve month high of $219.65. The business has a 50 day moving average price of $184.81 and a two-hundred day moving average price of $184.70.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last posted its quarterly earnings data 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 for the quarter.

Coca-Cola Consolidated Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 24th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, July 24th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. Coca-Cola Consolidated's dividend payout ratio (DPR) is 13.26%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. Wall Street Zen lowered Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy".

Coca-Cola Consolidated Company 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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