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Allspring Global Investments Holdings LLC Has $9.09 Million Position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Coca-Cola Consolidated logo with Consumer Staples background

Allspring Global Investments Holdings LLC cut its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 25.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,542 shares of the company's stock after selling 2,281 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.08% of Coca-Cola Consolidated worth $9,085,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Sunbelt Securities Inc. raised its holdings in Coca-Cola Consolidated by 10.8% in the 4th quarter. Sunbelt Securities Inc. now owns 103 shares of the company's stock valued at $128,000 after buying an additional 10 shares during the last quarter. State of Alaska Department of Revenue increased its position in Coca-Cola Consolidated by 0.3% in the 1st quarter. State of Alaska Department of Revenue now owns 3,973 shares of the company's stock valued at $5,363,000 after acquiring an additional 10 shares during the period. HBK Sorce Advisory LLC raised its stake in shares of Coca-Cola Consolidated by 2.9% during the first quarter. HBK Sorce Advisory LLC now owns 357 shares of the company's stock valued at $481,000 after acquiring an additional 10 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Coca-Cola Consolidated by 0.8% during the fourth quarter. Arizona State Retirement System now owns 1,575 shares of the company's stock worth $1,984,000 after purchasing an additional 12 shares during the period. Finally, Congress Wealth Management LLC DE grew its stake in shares of Coca-Cola Consolidated by 8.2% in the fourth quarter. Congress Wealth Management LLC DE now owns 184 shares of the company's stock worth $232,000 after purchasing an additional 14 shares during the last quarter. 48.24% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Consolidated Price Performance

Shares of COKE opened at $117.35 on Friday. The business has a 50-day moving average of $134.64 and a 200-day moving average of $134.00. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.03 and a quick ratio of 1.76. The company has a market capitalization of $10.23 billion, a price-to-earnings ratio of 18.32 and a beta of 0.79. Coca-Cola Consolidated, Inc. has a 1 year low of $105.21 and a 1 year high of $146.09.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $1.56 earnings per share (EPS) for the quarter. Coca-Cola Consolidated had a net margin of 8.29% and a return on equity of 48.35%. The firm had revenue of $1.58 billion during the quarter.

Coca-Cola Consolidated Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, April 25th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, April 25th. This represents a $1.00 dividend on an annualized basis and a yield of 0.85%. Coca-Cola Consolidated's dividend payout ratio (DPR) is currently 15.60%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered Coca-Cola Consolidated from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 10th.

Check Out Our Latest Stock Analysis on COKE

About Coca-Cola Consolidated

(Free Report)

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.

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Want to see what other hedge funds are holding COKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report).

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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