Coca-Cola Consolidated, Inc. $COKE Shares Sold by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management trimmed its stake in Coca‑Cola Consolidated by 29% in Q4, selling 11,116 shares and leaving it with 27,224 shares valued at about $4.17 million.
• Coca‑Cola Consolidated announced a quarterly dividend of $0.25 per share (annualized $1.00), with an ex‑dividend date of April 24 and a payment date of May 8, implying a yield of roughly 0.5%.
• Weiss Ratings reiterated a "Buy" and the stock carries a MarketBeat consensus "Buy"; the company has a market cap of $13.57 billion, a P/E of ~29.9 and a 52‑week range of $105.21–$219.65.

Pictet Asset Management Holding SA trimmed its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 29.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,224 shares of the company's stock after selling 11,116 shares during the quarter. Pictet Asset Management Holding SA's holdings in Coca-Cola Consolidated were worth $4,173,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fifth Third Bancorp increased its position in Coca-Cola Consolidated by 16.0% during the 3rd quarter. Fifth Third Bancorp now owns 528 shares of the company's stock worth $62,000 after purchasing an additional 73 shares in the last quarter. Legacy Wealth Asset Management LLC lifted its position in Coca-Cola Consolidated by 2.3% during the fourth quarter. Legacy Wealth Asset Management LLC now owns 4,021 shares of the company's stock valued at $616,000 after buying an additional 89 shares in the last quarter. Private Advisor Group LLC grew 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 worth $503,000 after buying an additional 94 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of Coca-Cola Consolidated by 0.8% in the third quarter. Oregon Public Employees Retirement Fund now owns 12,080 shares of the company's stock worth $1,415,000 after acquiring an additional 100 shares in the last quarter. Finally, Alliance Wealth Management Group increased its position in shares of Coca-Cola Consolidated by 1.2% in the fourth quarter. Alliance Wealth Management Group now owns 8,589 shares of the company's stock worth $1,317,000 after acquiring an additional 100 shares in the last quarter. 48.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings restated a "buy (b)" rating on shares of Coca-Cola Consolidated in a report on Friday, March 27th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy".

Coca-Cola Consolidated Price Performance

COKE stock opened at $203.92 on Monday. The firm has a market cap of $13.57 billion, a P/E ratio of 29.91 and a beta of 0.61. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.97 and a current ratio of 1.26. Coca-Cola Consolidated, Inc. has a 1 year low of $105.21 and a 1 year high of $219.65. The stock has a 50-day simple moving average of $197.96 and a 200-day simple moving average of $168.70.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last released its quarterly earnings results on Wednesday, February 18th. The company reported $2.11 EPS for the quarter. The firm had revenue of $1.90 billion for the quarter. Coca-Cola Consolidated had a return on equity of 66.42% and a net margin of 7.89%.

Coca-Cola Consolidated Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Friday, April 24th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, April 24th. Coca-Cola Consolidated's payout ratio is presently 14.66%.

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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