Danica Pension Livsforsikringsaktieselskab Makes New $41.36 Million Investment in Coca-Cola Consolidated, Inc. $COKE

Danica Pension Livsforsikringsaktieselskab purchased a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, HoldingsChannel.com reports. The fund purchased 508,926 shares of the company’s stock, valued at approximately $41,360,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Quarry LP bought a new stake in shares of Coca-Cola Consolidated during the third quarter worth $25,000. Advisory Services Network LLC bought a new position in Coca-Cola Consolidated during the 3rd quarter worth about $25,000. J.Safra Asset Management Corp acquired a new stake in shares of Coca-Cola Consolidated in the 2nd quarter valued at about $26,000. Newbridge Financial Services Group Inc. raised 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 valued at $26,000 after purchasing an additional 207 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Coca-Cola Consolidated by 900.0% in the second quarter. Geneos Wealth Management Inc. now owns 250 shares of the company’s stock valued at $28,000 after purchasing an additional 225 shares in the last quarter. Institutional investors and hedge funds own 48.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wall Street Zen downgraded 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 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 presently has an average rating of “Buy”.

Coca-Cola Consolidated Stock Up 1.3%

Shares of Coca-Cola Consolidated stock opened at $188.64 on Wednesday. Coca-Cola Consolidated, Inc. has a 12-month low of $110.60 and a 12-month high of $219.65. The stock has a market cap of $12.56 billion, a P/E ratio of 25.02 and a beta of 0.55. The business’s 50 day moving average is $185.03 and its 200-day moving average is $185.23.

Coca-Cola Consolidated (NASDAQ:COKE) last released its 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 during the quarter. Coca-Cola Consolidated had a net margin of 7.15% and a negative return on equity of 1,041.59%.

Coca-Cola Consolidated Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 7th. Shareholders 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 yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is currently 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.