Coca-Cola Consolidated, Inc. (NASDAQ:COKE) Stock Position Cut by Private Advisor Group LLC

Private Advisor Group LLC trimmed its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 19.2% during the second quarter, Holdings Channel reports. The institutional investor owned 632 shares of the company’s stock after selling 150 shares during the period. Private Advisor Group LLC’s holdings in Coca-Cola Consolidated were worth $686,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Arizona State Retirement System raised its holdings in Coca-Cola Consolidated by 1.9% during the second quarter. Arizona State Retirement System now owns 1,523 shares of the company’s stock worth $1,652,000 after purchasing an additional 28 shares in the last quarter. VELA Investment Management LLC bought a new stake in shares of Coca-Cola Consolidated in the 2nd quarter worth $4,435,000. CIBC Asset Management Inc acquired a new stake in shares of Coca-Cola Consolidated in the second quarter valued at $247,000. Natixis Advisors LLC boosted its stake in Coca-Cola Consolidated by 21.2% during the second quarter. Natixis Advisors LLC now owns 15,538 shares of the company’s stock valued at $16,858,000 after buying an additional 2,719 shares in the last quarter. Finally, Ritholtz Wealth Management grew its holdings in Coca-Cola Consolidated by 7.8% during the second quarter. Ritholtz Wealth Management now owns 2,938 shares of the company’s stock worth $3,188,000 after acquiring an additional 212 shares during the period. 48.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Coca-Cola Consolidated news, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $925.00, for a total value of $553,722,575.00. Following the completion of the transaction, the insider now directly owns 1,883,546 shares in the company, valued at $1,742,280,050. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Coca-Cola Consolidated Trading Down 1.5 %

Shares of NASDAQ:COKE opened at $1,261.36 on Wednesday. The stock has a market capitalization of $11.82 billion, a price-to-earnings ratio of 25.98 and a beta of 0.82. Coca-Cola Consolidated, Inc. has a 1-year low of $614.22 and a 1-year high of $1,376.84. The company has a 50 day moving average price of $1,232.20 and a 200 day moving average price of $1,030.82. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.75 and a current ratio of 1.97.

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

Coca-Cola Consolidated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were paid a $0.50 dividend. The ex-dividend date was Friday, July 26th. This represents a $2.00 dividend on an annualized basis and a yield of 0.16%. 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.