Municipal Employees Retirement System of Michigan Invests $238,000 in Coca-Cola Consolidated Inc (COKE) Stock

Municipal Employees Retirement System of Michigan purchased a new position in Coca-Cola Consolidated Inc (NASDAQ:COKE) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,340 shares of the company’s stock, valued at approximately $238,000.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its stake in Coca-Cola Consolidated by 6.6% in the 3rd quarter. Vanguard Group Inc. now owns 469,733 shares of the company’s stock worth $85,623,000 after purchasing an additional 29,147 shares in the last quarter. MetLife Investment Advisors LLC increased its stake in Coca-Cola Consolidated by 49.9% in the 3rd quarter. MetLife Investment Advisors LLC now owns 3,561 shares of the company’s stock worth $649,000 after purchasing an additional 1,185 shares in the last quarter. FMR LLC increased its stake in Coca-Cola Consolidated by 2.2% in the 3rd quarter. FMR LLC now owns 179,165 shares of the company’s stock worth $32,658,000 after purchasing an additional 3,824 shares in the last quarter. Rhumbline Advisers increased its stake in Coca-Cola Consolidated by 19.1% in the 4th quarter. Rhumbline Advisers now owns 14,467 shares of the company’s stock worth $2,566,000 after purchasing an additional 2,321 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in Coca-Cola Consolidated by 7.6% in the 3rd quarter. Legal & General Group Plc now owns 10,679 shares of the company’s stock worth $1,939,000 after purchasing an additional 758 shares in the last quarter. Hedge funds and other institutional investors own 38.25% of the company’s stock.

NASDAQ:COKE opened at $298.15 on Tuesday. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.98 and a current ratio of 1.33. Coca-Cola Consolidated Inc has a fifty-two week low of $125.08 and a fifty-two week high of $299.88. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of 57.53 and a beta of 0.76.

Coca-Cola Consolidated (NASDAQ:COKE) last released its earnings results on Tuesday, February 26th. The company reported $1.82 earnings per share for the quarter. Coca-Cola Consolidated had a positive return on equity of 10.40% and a negative net margin of 0.43%. The company had revenue of $1.14 billion for the quarter.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.00 annualized dividend and a yield of 0.34%.

COKE has been the topic of a number of analyst reports. ValuEngine raised Coca-Cola Consolidated from a “hold” rating to a “buy” rating in a research note on Friday, December 21st. BidaskClub cut Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research note on Friday, December 28th. Finally, TheStreet cut Coca-Cola Consolidated from a “b” rating to a “c+” rating in a research note on Wednesday, February 27th.

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Coca-Cola Consolidated Company Profile

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

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Institutional Ownership by Quarter for Coca-Cola Consolidated (NASDAQ:COKE)

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