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

Allspring Global Investments Holdings LLC lowered its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 25.9% in the first 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 period. Allspring Global Investments Holdings LLC owned 0.08% of Coca-Cola Consolidated worth $9,085,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. HBK Sorce Advisory LLC raised its stake in shares of Coca-Cola Consolidated by 2.9% in 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. Spire Wealth Management raised its stake in shares of Coca-Cola Consolidated by 115.6% in the first quarter. Spire Wealth Management now owns 69 shares of the company's stock valued at $92,000 after acquiring an additional 37 shares during the last quarter. Lecap Asset Management Ltd. bought a new position in shares of Coca-Cola Consolidated in the first quarter valued at approximately $323,000. Retirement Systems of Alabama raised its stake in shares of Coca-Cola Consolidated by 5.1% in the first quarter. Retirement Systems of Alabama now owns 14,645 shares of the company's stock valued at $19,771,000 after acquiring an additional 709 shares during the last quarter. Finally, Johnson Investment Counsel Inc. increased its holdings in shares of Coca-Cola Consolidated by 20.7% in the first quarter. Johnson Investment Counsel Inc. now owns 2,446 shares of the company's stock valued at $3,302,000 after purchasing an additional 420 shares in the last quarter. Institutional investors own 48.24% of the company's stock.

Coca-Cola Consolidated Price Performance

Shares of Coca-Cola Consolidated stock traded down $2.11 during midday trading on Tuesday, reaching $113.86. The company had a trading volume of 654,939 shares, compared to its average volume of 501,838. The company has a current ratio of 2.03, a quick ratio of 1.76 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $9.93 billion, a price-to-earnings ratio of 17.77 and a beta of 0.79. The stock has a fifty day simple moving average of $133.83 and a 200 day simple moving average of $134.00. 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 issued its quarterly earnings results on Wednesday, April 30th. The company reported $1.56 earnings per share for the quarter. The business had revenue of $1.58 billion during the quarter. Coca-Cola Consolidated had a net margin of 8.29% and a return on equity of 48.35%.

Coca-Cola Consolidated Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, April 25th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Friday, April 25th. Coca-Cola Consolidated's dividend payout ratio is presently 15.60%.

Analyst Ratings Changes

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

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.