Nippon Life Global Investors Americas Inc. Takes $14.54 Million Position in Coca-Cola Consolidated, Inc. $COKE

Nippon Life Global Investors Americas Inc. bought a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, HoldingsChannel reports. The firm bought 178,280 shares of the company’s stock, valued at approximately $14,540,000.

Several other institutional investors and hedge funds have also bought and sold shares of COKE. J.Safra Asset Management Corp bought a new stake in Coca-Cola Consolidated during the second quarter worth about $26,000. Flputnam Investment Management Co. bought a new position in Coca-Cola Consolidated in the second quarter valued at approximately $43,909,000. Global Retirement Partners LLC bought a new position in Coca-Cola Consolidated in the second quarter valued at approximately $11,974,000. 1ST Source Bank acquired a new position in shares of Coca-Cola Consolidated during the 2nd quarter worth approximately $1,681,000. Finally, Fielder Capital Group LLC acquired a new position in shares of Coca-Cola Consolidated during the 2nd quarter worth approximately $1,033,000. Institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Performance

Shares of COKE stock opened at $189.11 on Monday. Coca-Cola Consolidated, Inc. has a 52-week low of $110.60 and a 52-week high of $219.65. The stock has a market cap of $12.59 billion, a price-to-earnings ratio of 25.08 and a beta of 0.55. The firm’s 50-day moving average is $184.81 and its 200-day moving average is $184.70.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on COKE shares. Wall Street Zen cut Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Coca-Cola Consolidated currently has an average rating of “Buy”.

Coca-Cola Consolidated 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.