Louisiana State Employees Retirement System Buys 300 Shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Louisiana State Employees Retirement System lifted its stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 23.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,600 shares of the company’s stock after acquiring an additional 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Coca-Cola Consolidated were worth $2,106,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. BTS Asset Management Inc. bought a new position in shares of Coca-Cola Consolidated in the 3rd quarter worth $222,000. International Assets Investment Management LLC raised its position in shares of Coca-Cola Consolidated by 74,390.2% in the 3rd quarter. International Assets Investment Management LLC now owns 152,705 shares of the company’s stock worth $201,021,000 after acquiring an additional 152,500 shares in the last quarter. Lecap Asset Management Ltd. bought a new position in shares of Coca-Cola Consolidated in the 3rd quarter worth $395,000. Allspring Global Investments Holdings LLC raised its position in shares of Coca-Cola Consolidated by 151.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 20,596 shares of the company’s stock worth $27,113,000 after acquiring an additional 12,393 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of Coca-Cola Consolidated by 126.6% in the 3rd quarter. Blue Trust Inc. now owns 213 shares of the company’s stock worth $280,000 after acquiring an additional 119 shares in the last quarter. 48.24% of the stock is owned by institutional investors.

Coca-Cola Consolidated Trading Down 1.7 %

Shares of NASDAQ:COKE opened at $1,209.61 on Wednesday. The business’s 50-day moving average is $1,297.77 and its 200 day moving average is $1,122.17. Coca-Cola Consolidated, Inc. has a 1 year low of $628.00 and a 1 year high of $1,376.84. The firm has a market capitalization of $11.34 billion, a P/E ratio of 24.91 and a beta of 0.82. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.97 and a quick ratio of 1.75.

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

Coca-Cola Consolidated Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 25th will be given a dividend of $2.50 per share. This is a positive change from Coca-Cola Consolidated’s previous quarterly dividend of $0.25. This represents a $10.00 annualized dividend and a yield of 0.83%. The ex-dividend date is Friday, October 25th. Coca-Cola Consolidated’s dividend payout ratio is currently 20.59%.

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.