16,737 Shares in Coca-Cola Consolidated, Inc. $COKE Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio purchased a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 16,737 shares of the company’s stock, valued at approximately $3,195,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Biglari Capital CORP. acquired a new stake in shares of Coca-Cola Consolidated during the second quarter worth $9,752,000. Ascentis Independent Advisors acquired a new position in shares of Coca-Cola Consolidated in the first quarter valued at about $31,000. Ballast Advisors LLC acquired a new position in shares of Coca-Cola Consolidated in the first quarter valued at about $38,000. Quarry LP bought a new position in Coca-Cola Consolidated during the third quarter worth about $25,000. Finally, Advisory Services Network LLC bought a new position in Coca-Cola Consolidated during the third quarter worth about $25,000. 48.24% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Consolidated Stock Performance

COKE opened at $189.33 on Friday. The firm has a market cap of $12.60 billion, a P/E ratio of 25.11 and a beta of 0.56. Coca-Cola Consolidated, Inc. has a 52-week low of $110.60 and a 52-week high of $219.65. The business’s fifty day moving average is $187.44 and its 200-day moving average is $188.42.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 EPS for the quarter. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%.The business had revenue of $2.05 billion during the quarter.

Coca-Cola Consolidated Announces Dividend

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

Analyst Upgrades and Downgrades

COKE has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy”.

About Coca-Cola Consolidated

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.