Coca-Cola Consolidated, Inc. $COKE Shares Sold by Janus Henderson Group PLC

Key Points

• Janus Henderson Group reduced its Coca-Cola Consolidated stake by 11.2% in the first quarter, selling 16,542 shares and retaining 131,742 shares valued at approximately $25.3 million. Institutional investors and hedge funds collectively own 48.24% of the company.
• Coca-Cola Consolidated shares opened at $180.76, down 3.8%, with a 12-month range of $110.60 to $219.65. The company recently reported quarterly revenue of $1.71 billion and earnings of $1.79 per share.
• The company declared a quarterly dividend of $0.25 per share, equal to a $1.00 annualized payout and a 0.6% yield. Weiss Ratings reaffirmed a “buy” rating, and the stock carries an overall “Buy” consensus.

Janus Henderson Group PLC lowered its position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 11.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 131,742 shares of the company's stock after selling 16,542 shares during the quarter. Janus Henderson Group PLC owned 0.20% of Coca-Cola Consolidated worth $25,258,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Bessemer Group Inc. lifted its holdings in Coca-Cola Consolidated by 19.1% in the 1st quarter. Bessemer Group Inc. now owns 331 shares of the company's stock valued at $63,000 after acquiring an additional 53 shares during the last quarter. Beacon Pointe Advisors LLC grew its stake in shares of Coca-Cola Consolidated by 2.6% in the 4th quarter. Beacon Pointe Advisors LLC now owns 2,842 shares of the company's stock worth $436,000 after purchasing an additional 72 shares during the last quarter. Wealthfront Advisers LLC raised its holdings in shares of Coca-Cola Consolidated by 4.1% in the 1st quarter. Wealthfront Advisers LLC now owns 1,869 shares of the company's stock worth $358,000 after purchasing an additional 73 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Coca-Cola Consolidated by 8.9% in the 4th quarter. UMB Bank n.a. now owns 951 shares of the company's stock worth $146,000 after purchasing an additional 78 shares in the last quarter. Finally, Private Advisor Group LLC lifted its stake in Coca-Cola Consolidated by 2.2% during the third quarter. Private Advisor Group LLC now owns 4,297 shares of the company's stock valued at $503,000 after purchasing an additional 94 shares during the last quarter. 48.24% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Consolidated Stock Down 3.8%

Shares of NASDAQ COKE opened at $180.76 on Tuesday. Coca-Cola Consolidated, Inc. has a 12 month low of $110.60 and a 12 month high of $219.65. The company has a market cap of $12.03 billion, a price-to-earnings ratio of 24.73 and a beta of 0.55. The business has a fifty day simple moving average of $182.69 and a 200-day simple moving average of $182.45.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.79 earnings per share for the quarter. The firm had revenue of $1.71 billion for the quarter. Coca-Cola Consolidated had a return on equity of 138.44% and a net margin of 7.72%.

Coca-Cola Consolidated Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 24th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, July 24th. Coca-Cola Consolidated's dividend payout ratio (DPR) is 13.68%.

Wall Street Analyst Weigh In

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

About Coca-Cola Consolidated

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source