Meiji Yasuda Invests $22.08 Million in Coca-Cola Consolidated
Meiji Yasuda Asset Management Co Ltd has made a significant investment in Coca-Cola Consolidated, Inc, purchasing 271,742 shares of the company's stock valued at approximately $22.08 million. This new stake accounts for about 1% of Meiji Yasuda's investment portfolio and makes it the firm's 15th largest holding.
Coca-Cola Consolidated is a leading bottler of Coca-Cola products in the United States, with operations spanning 14 states and the District of Columbia across the Southeastern, South Central, and Mid-Atlantic regions. The company has a market cap of $12.59 billion and a price-to-earnings ratio of 25.08.
In its most recent quarterly earnings report, Coca-Cola Consolidated announced $2.83 earnings per share (EPS) on revenue of $2.05 billion. The company also declared a quarterly dividend of $0.25 per share, representing a yield of 0.5% and a payout ratio of 13.26%.
Despite the investment from Meiji Yasuda Asset Management Co Ltd, analysts have varying opinions on Coca-Cola Consolidated's stock performance. While one analyst has given it a 'buy' rating, another has cut its rating to 'hold'. The company currently has an average rating of 'buy' among analysts.