Texas Permanent School Fund Corp Raises Stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Texas Permanent School Fund Corp boosted its holdings in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 9.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,508 shares of the company’s stock after acquiring an additional 406 shares during the period. Texas Permanent School Fund Corp’s holdings in Coca-Cola Consolidated were worth $4,891,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Janney Montgomery Scott LLC lifted its position in Coca-Cola Consolidated by 98.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 2,326 shares of the company’s stock valued at $2,160,000 after acquiring an additional 1,153 shares during the period. Ontario Teachers Pension Plan Board raised its holdings in Coca-Cola Consolidated by 295.1% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 5,014 shares of the company’s stock worth $4,655,000 after buying an additional 3,745 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Coca-Cola Consolidated by 27.7% in the first quarter. BNP Paribas Financial Markets now owns 6,366 shares of the company’s stock worth $5,388,000 after buying an additional 1,380 shares during the last quarter. Hancock Whitney Corp raised its holdings in Coca-Cola Consolidated by 12.3% in the fourth quarter. Hancock Whitney Corp now owns 13,187 shares of the company’s stock worth $12,243,000 after buying an additional 1,444 shares during the last quarter. Finally, Hobbs Group Advisors LLC purchased a new position in Coca-Cola Consolidated in the fourth quarter worth about $1,075,000. 48.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Coca-Cola Consolidated

In other news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola Consolidated stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 1,883,546 shares in the company, valued at $1,742,280,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 report on Thursday, May 23rd.

Coca-Cola Consolidated Stock Down 0.5 %

Shares of Coca-Cola Consolidated stock opened at $1,271.09 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.75 and a current ratio of 1.97. The stock has a market capitalization of $11.92 billion, a PE ratio of 26.18 and a beta of 0.82. Coca-Cola Consolidated, Inc. has a 52-week low of $614.22 and a 52-week high of $1,376.84. The company has a 50-day simple moving average of $1,216.72 and a two-hundred day simple moving average of $1,017.14.

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

Coca-Cola Consolidated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were paid a $0.50 dividend. The ex-dividend date was Friday, July 26th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.16%. Coca-Cola Consolidated’s dividend payout ratio is presently 20.59%.

About Coca-Cola Consolidated

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.