8,396,412 Shares in Coca-Cola Consolidated, Inc. $COKE Purchased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board purchased a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 8,396,412 shares of the company’s stock, valued at approximately $682,376,000. Canada Pension Plan Investment Board owned approximately 12.61% of Coca-Cola Consolidated at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Quarry LP bought a new stake in Coca-Cola Consolidated in the third quarter worth $25,000. Advisory Services Network LLC bought a new position in Coca-Cola Consolidated during the third quarter valued at $25,000. J.Safra Asset Management Corp purchased a new position in shares of Coca-Cola Consolidated in the 2nd quarter worth $26,000. Newbridge Financial Services Group Inc. grew its stake in shares of Coca-Cola Consolidated by 900.0% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company’s stock worth $26,000 after buying an additional 207 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Coca-Cola Consolidated by 900.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 250 shares of the company’s stock worth $28,000 after buying an additional 225 shares during the last quarter. Institutional investors own 48.24% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on COKE shares. Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. Wall Street Zen cut Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, Coca-Cola Consolidated has a consensus rating of “Buy”.

Coca-Cola Consolidated Stock Performance

Shares of COKE stock opened at $196.53 on Wednesday. The stock has a 50 day moving average price of $185.35 and a 200 day moving average price of $186.58. Coca-Cola Consolidated, Inc. has a 52-week low of $110.60 and a 52-week high of $219.65. The firm has a market capitalization of $13.08 billion, a P/E ratio of 26.07 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its quarterly earnings data 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 company had revenue of $2.05 billion for the quarter.

Coca-Cola Consolidated Dividend Announcement

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

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.