Amundi Sells 76,114 Shares of Coca-Cola Consolidated, Inc. $COKE

Key Points

• Amundi reduced its Coca-Cola Consolidated stake by 61.4% in the first quarter, selling 76,114 shares and retaining 47,872 shares valued at approximately $9.18 million. Institutional investors collectively own 48.24% of the company.
• COKE shares opened at $184.59, with a $12.29 billion market capitalization and a 52-week trading range of $110.60 to $219.65. The company reported quarterly earnings of $2.83 per share on $2.05 billion in revenue.
• Coca-Cola Consolidated declared a quarterly dividend of $0.25 per share, equivalent to $1.00 annually and a 0.5% yield. MarketBeat reports an overall analyst rating of “Buy,” including a reiterated buy rating from Weiss Ratings.

Amundi lessened its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 61.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,872 shares of the company's stock after selling 76,114 shares during the period. Amundi owned 0.07% of Coca-Cola Consolidated worth $9,179,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in COKE. EverSource Wealth Advisors LLC raised its holdings in shares of Coca-Cola Consolidated by 15.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,423 shares of the company's stock worth $656,000 after acquiring an additional 468 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Coca-Cola Consolidated by 22.3% during the 1st quarter. California State Teachers Retirement System now owns 59,418 shares of the company's stock valued at $11,393,000 after buying an additional 10,838 shares in the last quarter. ROI Financial Advisors LLC lifted its holdings in shares of Coca-Cola Consolidated by 1.6% in the 1st quarter. ROI Financial Advisors LLC now owns 10,556 shares of the company's stock valued at $2,024,000 after acquiring an additional 164 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Coca-Cola Consolidated in the 1st quarter valued at about $795,000. Finally, Quantinno Capital Management LP grew its position in Coca-Cola Consolidated by 7.9% in the first quarter. Quantinno Capital Management LP now owns 30,649 shares of the company's stock worth $5,877,000 after acquiring an additional 2,254 shares in the last quarter. 48.24% of the stock is owned by institutional investors.

Coca-Cola Consolidated Trading Up 2.0%

NASDAQ:COKE opened at $184.59 on Thursday. The company has a market cap of $12.29 billion, a price-to-earnings ratio of 25.25 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a twelve month low of $110.60 and a twelve month high of $219.65. The stock has a fifty day simple moving average of $182.94 and a 200-day simple moving average of $182.89.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 earnings per share for the quarter. The company had revenue of $2.05 billion during the quarter. Coca-Cola Consolidated had a net margin of 7.72% and a return on equity of 138.44%.

Coca-Cola Consolidated Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Friday, July 24th. Coca-Cola Consolidated's dividend payout ratio is currently 13.68%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a "buy (b)" rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy".

Coca-Cola Consolidated Profile

Founded in 1902 and headquartered in Charlotte, North Carolina, Coca-Cola Consolidated, Inc is the largest independent bottler of Coca-Cola products in the United States. The company manufactures, sells and distributes a broad portfolio of sparkling and still beverages under exclusive agreements with The Coca-Cola Company. Its brand lineup includes Coca-Cola, Diet Coke, Sprite and Fanta, as well as noncarbonated offerings such as Minute Maid juices, Gold Peak teas, Dasani water, Powerade sports drinks and vitaminwater.

Coca-Cola Consolidated's operations span 14 states and the District of Columbia across the Southeastern, South Central and Mid-Atlantic regions.

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