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

A number of other hedge funds have also recently added to or reduced their stakes in COKE. Stifel Financial Corp boosted its holdings in Coca-Cola Consolidated by 2.8% in the 4th quarter. Stifel Financial Corp now owns 1,577 shares of the company's stock worth $1,995,000 after acquiring an additional 43 shares during the period. Hsbc Holdings PLC bought a new stake in Coca-Cola Consolidated during the fourth quarter valued at $2,280,000. Kovitz Investment Group Partners LLC bought a new position in shares of Coca-Cola Consolidated in the 4th quarter worth about $1,177,000. Northern Trust Corp boosted its holdings in shares of Coca-Cola Consolidated by 27.3% in the 4th quarter. Northern Trust Corp now owns 51,778 shares of the company's stock valued at $65,240,000 after buying an additional 11,104 shares during the period. Finally, Voleon Capital Management LP bought a new stake in shares of Coca-Cola Consolidated during the 4th quarter valued at about $397,000. 48.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Coca-Cola Consolidated stock traded up $1.03 during midday trading on Friday, reaching $117.24. 281,228 shares of the stock traded hands, compared to its average volume of 402,651. The company has a current ratio of 2.04, a quick ratio of 1.78 and a debt-to-equity ratio of 0.88. The firm has a fifty day moving average price of $114.30 and a two-hundred day moving average price of $129.58. The firm has a market cap of $10.19 billion, a price-to-earnings ratio of 17.49 and a beta of 0.81. 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 announced its quarterly earnings results on Thursday, July 24th. The company reported $2.24 EPS for the quarter. The company had revenue of $1.86 billion for the quarter. Coca-Cola Consolidated had a net margin of 8.43% and a return on equity of 44.91%.

Coca-Cola Consolidated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Friday, July 25th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Friday, July 25th. Coca-Cola Consolidated's payout ratio is 14.93%.

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.