Teacher Retirement System of Texas Has $2.88 Million Stock Position in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Teacher Retirement System of Texas cut its stake in Coca‑Cola Consolidated by 26.3% in Q4, selling 6,709 shares and retaining 18,781 shares worth about $2,879,000 as of the latest SEC filing.
• Other institutions boosted exposure—Envestnet increased its position by 320.8% to 82,171 shares and JPMorgan owns 244,805 shares (~$28.68M); institutional investors now hold about 48.24% of the company.
• Coca‑Cola Consolidated declared a quarterly dividend of $0.25 per share (annualized $1.00, yield 0.5%) and recently reported Q earnings of $2.11 per share on $1.90B revenue, with a market cap of $12.90B and a P/E of 28.44.

Teacher Retirement System of Texas lowered its holdings in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 26.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 18,781 shares of the company's stock after selling 6,709 shares during the period. Teacher Retirement System of Texas' holdings in Coca-Cola Consolidated were worth $2,879,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. CWM LLC raised its position in Coca-Cola Consolidated by 209.4% during the 3rd quarter. CWM LLC now owns 13,378 shares of the company's stock worth $1,567,000 after purchasing an additional 9,054 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Coca-Cola Consolidated by 320.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 82,171 shares of the company's stock worth $9,627,000 after buying an additional 62,645 shares during the period. JPMorgan Chase & Co. grew its position in shares of Coca-Cola Consolidated by 11.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 244,805 shares of the company's stock valued at $28,681,000 after buying an additional 24,278 shares during the last quarter. Natixis Advisors LLC grew its position in shares of Coca-Cola Consolidated by 122.1% in the 3rd quarter. Natixis Advisors LLC now owns 107,106 shares of the company's stock valued at $12,548,000 after buying an additional 58,890 shares during the last quarter. Finally, HighTower Advisors LLC increased its stake in shares of Coca-Cola Consolidated by 76.8% in the third quarter. HighTower Advisors LLC now owns 18,039 shares of the company's stock valued at $2,114,000 after buying an additional 7,834 shares during the period. Institutional investors and hedge funds own 48.24% of the company's stock.

Analyst Ratings Changes

Separately, Weiss Ratings restated a "buy (b)" rating on shares of Coca-Cola Consolidated in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy".

Coca-Cola Consolidated Trading Down 0.9%

NASDAQ:COKE opened at $193.86 on Tuesday. Coca-Cola Consolidated, Inc. has a 52 week low of $105.21 and a 52 week high of $219.65. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.97 and a current ratio of 1.26. The firm's fifty day moving average is $196.06 and its 200-day moving average is $167.06. The firm has a market cap of $12.90 billion, a P/E ratio of 28.44 and a beta of 0.61.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last announced its earnings results on Wednesday, February 18th. The company reported $2.11 earnings per share for the quarter. The business had revenue of $1.90 billion during the quarter. Coca-Cola Consolidated had a net margin of 7.89% and a return on equity of 66.42%.

Coca-Cola Consolidated Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Friday, April 24th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Friday, April 24th. Coca-Cola Consolidated's dividend payout ratio (DPR) is presently 14.66%.

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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