Diversified Trust Co Trims Stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Diversified Trust Co lessened its stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 0.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 146,399 shares of the company’s stock after selling 461 shares during the quarter. Coca-Cola Consolidated comprises about 3.7% of Diversified Trust Co’s investment portfolio, making the stock its 6th largest holding. Diversified Trust Co owned about 1.56% of Coca-Cola Consolidated worth $123,914,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in COKE. OneAscent Wealth Management LLC raised its holdings in Coca-Cola Consolidated by 8.0% in the first quarter. OneAscent Wealth Management LLC now owns 810 shares of the company’s stock worth $686,000 after purchasing an additional 60 shares during the period. Hennessy Advisors Inc. raised its stake in Coca-Cola Consolidated by 14.1% during the 1st quarter. Hennessy Advisors Inc. now owns 37,256 shares of the company’s stock worth $31,534,000 after buying an additional 4,600 shares during the period. CWM LLC lifted its holdings in Coca-Cola Consolidated by 30.3% during the first quarter. CWM LLC now owns 86 shares of the company’s stock worth $73,000 after acquiring an additional 20 shares in the last quarter. HighPoint Advisor Group LLC acquired a new position in Coca-Cola Consolidated in the fourth quarter valued at about $16,838,000. Finally, Wellington Management Group LLP bought a new stake in shares of Coca-Cola Consolidated in the fourth quarter worth about $6,102,000. Institutional investors and hedge funds own 48.24% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Coca-Cola Consolidated from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 23rd.

Coca-Cola Consolidated Stock Up 1.9 %

Shares of NASDAQ:COKE traded up $20.25 during midday trading on Monday, reaching $1,105.25. The company had a trading volume of 17,700 shares, compared to its average volume of 55,739. Coca-Cola Consolidated, Inc. has a 1-year low of $614.22 and a 1-year high of $1,111.20. The stock has a market cap of $10.36 billion, a PE ratio of 22.34 and a beta of 0.78. The company has a quick ratio of 1.47, a current ratio of 1.87 and a debt-to-equity ratio of 0.38. The business’s 50 day moving average price is $960.53 and its 200 day moving average price is $895.96.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings results on Monday, May 6th. The company reported $17.31 earnings per share for the quarter. Coca-Cola Consolidated had a return on equity of 42.10% and a net margin of 6.83%. The firm had revenue of $1.59 billion for the quarter.

Coca-Cola Consolidated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Friday, April 26th were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $2.00 annualized dividend and a yield of 0.18%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is currently 4.12%.

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.