State of Michigan Retirement System Has $1.19 Million Holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

State of Michigan Retirement System lessened its holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 8.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,100 shares of the company’s stock after selling 100 shares during the quarter. State of Michigan Retirement System’s holdings in Coca-Cola Consolidated were worth $1,194,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in COKE. CWM LLC lifted its position in Coca-Cola Consolidated by 22.2% during the 4th quarter. CWM LLC now owns 66 shares of the company’s stock worth $61,000 after buying an additional 12 shares in the last quarter. Inspire Investing LLC boosted its position in Coca-Cola Consolidated by 3.1% during the first quarter. Inspire Investing LLC now owns 426 shares of the company’s stock valued at $361,000 after purchasing an additional 13 shares during the last quarter. Comerica Bank boosted its position in Coca-Cola Consolidated by 0.9% during the fourth quarter. Comerica Bank now owns 1,554 shares of the company’s stock valued at $1,442,000 after purchasing an additional 14 shares during the last quarter. Cetera Advisors LLC grew its stake in Coca-Cola Consolidated by 3.4% in the first quarter. Cetera Advisors LLC now owns 420 shares of the company’s stock valued at $356,000 after purchasing an additional 14 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Coca-Cola Consolidated by 1.2% during the 4th quarter. Franklin Resources Inc. now owns 1,471 shares of the company’s stock worth $1,366,000 after purchasing an additional 17 shares during the last quarter. Institutional investors and hedge funds own 48.24% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Coca-Cola Consolidated from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 23rd.

Coca-Cola Consolidated Stock Down 0.2 %

Coca-Cola Consolidated stock opened at $1,325.80 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.97 and a quick ratio of 1.47. The company’s 50-day moving average is $1,169.67 and its 200-day moving average is $985.55. The firm has a market capitalization of $12.43 billion, a PE ratio of 27.30 and a beta of 0.78. Coca-Cola Consolidated, Inc. has a fifty-two week low of $614.22 and a fifty-two week high of $1,374.25.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $20.71 earnings per share for the quarter. Coca-Cola Consolidated had a return on equity of 44.83% and a net margin of 7.52%. The firm had revenue of $1.80 billion for the quarter.

Coca-Cola Consolidated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $2.00 dividend on an annualized basis and a yield of 0.15%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is 20.59%.

Insiders Place Their Bets

In other news, major shareholder Cola Co Coca sold 598,619 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $925.00, for a total value of $553,722,575.00. Following the transaction, the insider now directly owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Coca-Cola Consolidated Profile

Coca-Cola Consolidated, Inc, together with its subsidiaries, manufactures, markets, and distributes nonalcoholic beverages primarily products of The Coca-Cola Company in the United States. The company offers sparkling beverages; and still beverages, including energy products, as well as noncarbonated beverages comprising bottled water, ready to drink coffee and tea, enhanced water, juices, and sports drinks.