Cetera Investment Advisers decreased its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 29.6% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 12,531 shares of the company's stock after selling 5,281 shares during the period. Cetera Investment Advisers' holdings in Coca-Cola Consolidated were worth $2,403,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its position in Coca-Cola Consolidated by 13.4% during the first quarter. PNC Financial Services Group Inc. now owns 2,930 shares of the company's stock valued at $562,000 after buying an additional 347 shares during the period. Hollencrest Capital Management boosted its holdings in shares of Coca-Cola Consolidated by 35.6% during the first quarter. Hollencrest Capital Management now owns 2,410 shares of the company's stock worth $462,000 after purchasing an additional 633 shares during the period. Parallel Advisors LLC grew its position in Coca-Cola Consolidated by 52.2% during the first quarter. Parallel Advisors LLC now owns 1,073 shares of the company's stock valued at $206,000 after purchasing an additional 368 shares in the last quarter. California Public Employees Retirement System increased its stake in Coca-Cola Consolidated by 7.2% in the 1st quarter. California Public Employees Retirement System now owns 113,281 shares of the company's stock valued at $21,720,000 after buying an additional 7,631 shares during the period. Finally, Bessemer Group Inc. lifted its position in Coca-Cola Consolidated by 19.1% in the 1st quarter. Bessemer Group Inc. now owns 331 shares of the company's stock worth $63,000 after buying an additional 53 shares in the last quarter. 48.24% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
COKE has been the topic of a number of research reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. Wall Street Zen downgraded Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a research note on Saturday. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Coca-Cola Consolidated currently has a consensus rating of "Buy".
View Our Latest Analysis on COKE
Coca-Cola Consolidated Trading Up 2.5%
COKE stock opened at $192.99 on Friday. Coca-Cola Consolidated, Inc. has a 1-year low of $110.60 and a 1-year high of $219.65. The business's 50 day moving average is $183.60 and its 200-day moving average is $183.22. The firm has a market cap of $12.85 billion, a P/E ratio of 25.60 and a beta of 0.55.
Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 EPS for the quarter. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%.The business had revenue of $2.05 billion for the quarter.
Coca-Cola Consolidated Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Friday, July 24th. Coca-Cola Consolidated's payout ratio is currently 13.26%.
About Coca-Cola Consolidated
(
Free Report)
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.
Further Reading
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