California Public Employees Retirement System increased its stake in shares of Coca-Cola Consolidated Inc (NASDAQ:COKE) by 47.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 9,013 shares of the company’s stock after purchasing an additional 2,899 shares during the quarter. California Public Employees Retirement System owned 0.10% of Coca-Cola Consolidated worth $2,594,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Coca-Cola Consolidated during the 4th quarter valued at $10,474,000. HighPoint Advisor Group LLC lifted its holdings in shares of Coca-Cola Consolidated by 125.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 43,341 shares of the company’s stock worth $1,943,000 after buying an additional 24,141 shares during the period. Martingale Asset Management L P lifted its holdings in shares of Coca-Cola Consolidated by 535.8% in the 4th quarter. Martingale Asset Management L P now owns 17,801 shares of the company’s stock worth $3,159,000 after buying an additional 15,001 shares during the period. Prudential Financial Inc. lifted its holdings in shares of Coca-Cola Consolidated by 149.4% in the 4th quarter. Prudential Financial Inc. now owns 20,016 shares of the company’s stock worth $3,550,000 after buying an additional 11,991 shares during the period. Finally, Bessemer Group Inc. lifted its holdings in shares of Coca-Cola Consolidated by 900.0% in the 4th quarter. Bessemer Group Inc. now owns 9,000 shares of the company’s stock worth $1,596,000 after buying an additional 8,100 shares during the period. 38.26% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director John W. Murrey III sold 1,000 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $379.60, for a total value of $379,600.00. Following the transaction, the director now directly owns 500 shares of the company’s stock, valued at $189,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.01% of the stock is currently owned by corporate insiders.
Coca-Cola Consolidated (NASDAQ:COKE) last announced its earnings results on Tuesday, May 7th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.83) by $1.19. The company had revenue of $1.10 billion for the quarter. Coca-Cola Consolidated had a positive return on equity of 12.79% and a negative net margin of 0.27%.
COKE has been the subject of several recent research reports. BidaskClub lowered Coca-Cola Consolidated from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 17th. ValuEngine raised Coca-Cola Consolidated from a “hold” rating to a “buy” rating in a research report on Tuesday, March 5th.
About Coca-Cola Consolidated
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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