44,829 Shares in Coca-Cola Consolidated, Inc. $COKE Bought by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. purchased a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 44,829 shares of the company’s stock, valued at approximately $3,643,000.

A number of other hedge funds have also recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in shares of Coca-Cola Consolidated during the second quarter worth about $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Coca-Cola Consolidated in the second quarter worth $1,591,427,000. Deutsche Bank AG bought a new stake in shares of Coca-Cola Consolidated in the second quarter worth about $1,346,125,000. B. Metzler seel. Sohn & Co. AG bought a new position in Coca-Cola Consolidated during the second quarter valued at approximately $272,683,000. Finally, Korea Investment CORP purchased a new position in Coca-Cola Consolidated during the 2nd quarter valued at approximately $200,172,000. Institutional investors own 48.24% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on COKE shares. 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 restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

Coca-Cola Consolidated Price Performance

Coca-Cola Consolidated stock opened at $189.10 on Friday. Coca-Cola Consolidated, Inc. has a 1-year low of $110.60 and a 1-year high of $219.65. The stock has a market capitalization of $12.59 billion, a price-to-earnings ratio of 25.08 and a beta of 0.55. The business has a fifty day moving average price of $185.00 and a 200-day moving average price of $185.77.

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

Coca-Cola Consolidated Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were paid 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 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.