Coca-Cola Consolidated, Inc. $COKE Shares Sold by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. reduced its stake in Coca-Cola Consolidated by 14.1%, selling 6,186 shares to hold 37,710 shares worth approximately $50.9 million.
• Boston Partners notably increased its holdings in Coca-Cola Consolidated by 676.9%, acquiring an additional 174,709 shares, bringing their total to 200,518 shares valued at $270.7 million.
• Coca-Cola Consolidated reported $2.24 EPS and $1.86 billion in revenue for the latest quarter, along with a dividend of $0.25 per share, reflecting an annualized yield of 0.9%.

Ameriprise Financial Inc. decreased its holdings in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 14.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,710 shares of the company's stock after selling 6,186 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.43% of Coca-Cola Consolidated worth $50,908,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Wayfinding Financial LLC purchased a new stake in Coca-Cola Consolidated during the first quarter worth approximately $46,000. Allworth Financial LP lifted its stake in Coca-Cola Consolidated by 58.3% during the first quarter. Allworth Financial LP now owns 57 shares of the company's stock worth $79,000 after purchasing an additional 21 shares during the last quarter. Fifth Third Bancorp lifted its stake in Coca-Cola Consolidated by 40.9% during the first quarter. Fifth Third Bancorp now owns 62 shares of the company's stock worth $84,000 after purchasing an additional 18 shares during the last quarter. Spire Wealth Management lifted its stake in Coca-Cola Consolidated by 115.6% during the first quarter. Spire Wealth Management now owns 69 shares of the company's stock worth $92,000 after purchasing an additional 37 shares during the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new stake in Coca-Cola Consolidated in the first quarter valued at approximately $108,000. Hedge funds and other institutional investors own 48.24% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Coca-Cola Consolidated from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th.

Coca-Cola Consolidated Stock Performance

Shares of NASDAQ:COKE traded down $0.30 during trading on Tuesday, reaching $116.94. The company had a trading volume of 453,346 shares, compared to its average volume of 370,336. The firm has a market capitalization of $10.16 billion, a price-to-earnings ratio of 17.45 and a beta of 0.76. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.04 and a quick ratio of 1.78. The stock's fifty day moving average price is $114.63 and its 200 day moving average price is $129.22. Coca-Cola Consolidated, Inc. has a fifty-two week low of $105.21 and a fifty-two week high of $146.09.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $2.24 earnings per share (EPS) for the quarter. The business had revenue of $1.86 billion for the quarter. Coca-Cola Consolidated had a return on equity of 44.91% and a net margin of 8.43%.

Coca-Cola Consolidated Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Friday, July 25th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, July 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. Coca-Cola Consolidated's payout ratio is presently 14.93%.

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.