Varma Mutual Pension Insurance Co Acquires New Holdings in Coca-Cola Consolidated, Inc. $COKE

Varma Mutual Pension Insurance Co bought a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 662,576 shares of the company’s stock, valued at approximately $53,848,000. Varma Mutual Pension Insurance Co owned 1.00% of Coca-Cola Consolidated at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of COKE. BlackRock Inc. purchased a new position in shares of Coca-Cola Consolidated during the 2nd quarter valued at $26,229,118,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Coca-Cola Consolidated during the second quarter valued at $1,591,427,000. Deutsche Bank AG bought a new stake in Coca-Cola Consolidated during the second quarter valued at $1,346,125,000. Vanguard Group Inc. grew its position in Coca-Cola Consolidated by 6.4% during the fourth quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company’s stock worth $871,673,000 after buying an additional 341,374 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. AG purchased a new position in Coca-Cola Consolidated during the second quarter worth about $272,683,000. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on COKE. Wall Street Zen lowered 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 report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, Coca-Cola Consolidated presently has a consensus rating of “Buy”.

Coca-Cola Consolidated Stock Performance

Coca-Cola Consolidated stock opened at $189.10 on Friday. Coca-Cola Consolidated, Inc. has a fifty-two week low of $110.60 and a fifty-two week high of $219.65. The stock has a market cap of $12.59 billion, a P/E ratio of 25.08 and a beta of 0.55. The firm’s fifty day moving average price is $185.00 and its 200-day moving average price is $185.77.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share (EPS) for the quarter. The company 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 disclosed a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were given a dividend of $0.25 per share. The ex-dividend date was Friday, July 24th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio is 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.