Coca-Cola Consolidated, Inc. $COKE Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System cut its stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 0.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,139 shares of the company's stock after selling 279 shares during the period. California State Teachers Retirement System owned approximately 0.09% of Coca-Cola Consolidated worth $11,290,818 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Primecap Management Co. CA acquired a new position in shares of Coca-Cola Consolidated in the 2nd quarter valued at approximately $2,861,000. Caisse de depot et placement du Quebec purchased a new stake in shares of Coca-Cola Consolidated during the second quarter valued at approximately $291,152,000. Catalyst Investment Management LLC purchased a new position in Coca-Cola Consolidated in the second quarter worth $573,000. Van Hulzen Asset Management LLC bought a new stake in shares of Coca-Cola Consolidated in the 2nd quarter worth approximately $16,491,000. Finally, Argyle Capital Partners LLC bought a new position in shares of Coca-Cola Consolidated in the second quarter worth approximately $479,000. Institutional investors and hedge funds own 48.24% of the company's stock.

Coca-Cola Consolidated Trading Up 0.1%

NASDAQ COKE traded up $0.21 during trading on Tuesday, reaching $200.88. The company's stock had a trading volume of 231,207 shares, compared to its average volume of 514,739. Coca-Cola Consolidated, Inc. has a 12 month low of $110.60 and a 12 month high of $219.65. The firm has a 50 day moving average price of $187.29 and a 200 day moving average price of $189.12. The firm has a market capitalization of $13.37 billion, a price-to-earnings ratio of 26.64 and a beta of 0.56.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 EPS for the quarter. The business had revenue of $2.05 billion for the quarter. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%.

Coca-Cola Consolidated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Friday, July 24th. Coca-Cola Consolidated's dividend payout ratio is presently 13.26%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on COKE. Wall Street Zen lowered Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings restated a "buy (b)" rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy".

Coca-Cola Consolidated Company Profile

Coca-Cola Consolidated, Inc is the largest Coca-Cola bottler in the United States. Headquartered in Charlotte, North Carolina, the company manufactures, sells, markets and distributes beverages produced under The Coca-Cola Company's brands, as well as a selection of other beverage products.

Its portfolio includes Coca-Cola, Diet Coke, Coca-Cola Zero Sugar, Sprite, Fanta, DASANI, smartwater, Powerade, Minute Maid, Simply, fairlife and Topo Chico, along with other brands and products available in its distribution territories.

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