Canada Pension Plan Investment Board Sells 2,800 Shares of Coca-Cola Consolidated, Inc. $COKE

Key Points

• The Canada Pension Plan Investment Board reduced its holdings in Coca-Cola Consolidated, Inc. by 18.3%, now owning 12,500 shares valued at approximately $16.9 million.
• Institutional interest in Coca-Cola Consolidated has increased, with several firms, including Allworth Financial LP and Fifth Third Bancorp, boosting their stakes significantly during the first quarter.
• Coca-Cola Consolidated reported $1.86 billion in revenue and $2.24 earnings per share for the last quarter, with a quarterly dividend of $0.25 per share reflecting a yield of 0.9%.

Canada Pension Plan Investment Board lessened its holdings in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 18.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,500 shares of the company's stock after selling 2,800 shares during the quarter. Canada Pension Plan Investment Board owned about 0.14% of Coca-Cola Consolidated worth $16,875,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in COKE. OMERS ADMINISTRATION Corp purchased a new stake in Coca-Cola Consolidated during the 1st quarter valued at approximately $2,295,000. Ieq Capital LLC boosted its position in shares of Coca-Cola Consolidated by 480.3% during the first quarter. Ieq Capital LLC now owns 1,973 shares of the company's stock worth $2,664,000 after acquiring an additional 1,633 shares during the last quarter. Aristides Capital LLC purchased a new position in Coca-Cola Consolidated during the first quarter valued at $275,000. Caisse DE Depot ET Placement DU Quebec grew its stake in Coca-Cola Consolidated by 2.8% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 6,648 shares of the company's stock valued at $8,975,000 after acquiring an additional 179 shares in the last quarter. Finally, Walleye Capital LLC increased its holdings in Coca-Cola Consolidated by 65.1% in the 1st quarter. Walleye Capital LLC now owns 2,311 shares of the company's stock valued at $3,120,000 after acquiring an additional 911 shares during the last quarter. 48.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Coca-Cola Consolidated from a "hold" rating to a "buy" rating in a report on Saturday, July 26th.

Coca-Cola Consolidated Price Performance

Shares of NASDAQ COKE traded up $1.50 during mid-day trading on Friday, hitting $120.81. 591,065 shares of the company's stock traded hands, compared to its average volume of 382,302. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.04 and a quick ratio of 1.78. Coca-Cola Consolidated, Inc. has a 1 year low of $105.21 and a 1 year high of $146.09. The company's 50-day moving average is $115.18 and its two-hundred day moving average is $128.66. The company has a market capitalization of $10.50 billion, a P/E ratio of 18.03 and a beta of 0.76.

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

Coca-Cola Consolidated Dividend Announcement

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 was Friday, July 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. 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.