Coca-Cola Consolidated, Inc. $COKE Stock Position Lowered by Paralel Advisors LLC

Key Points

• Paralel Advisors LLC cut its Coca-Cola Consolidated stake by 39.2% in the second quarter, selling 7,769 shares and retaining 12,047 shares valued at approximately $2.3 million.
• Institutional ownership stands at 48.24%, while analyst sentiment remains broadly positive: COKE has an average “Buy” rating, despite one firm downgrading it to “Hold.”
• COKE opened at $189.33, with a $12.6 billion market capitalization. The company reported quarterly revenue of $2.05 billion and EPS of $2.83, and paid a quarterly dividend of $0.25 per share.

Paralel Advisors LLC decreased its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 39.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 12,047 shares of the company's stock after selling 7,769 shares during the period. Paralel Advisors LLC's holdings in Coca-Cola Consolidated were worth $2,300,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in COKE. Quarry LP purchased a new position in shares of Coca-Cola Consolidated during the third quarter valued at $25,000. Advisory Services Network LLC purchased a new stake in Coca-Cola Consolidated in the 3rd quarter worth about $25,000. Newbridge Financial Services Group Inc. boosted its position in Coca-Cola Consolidated by 900.0% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company's stock worth $26,000 after acquiring an additional 207 shares during the period. J.Safra Asset Management Corp acquired a new stake in Coca-Cola Consolidated during the 2nd quarter worth about $26,000. Finally, Geneos Wealth Management Inc. grew its stake in Coca-Cola Consolidated by 900.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 250 shares of the company's stock valued at $28,000 after acquiring an additional 225 shares in the last quarter. 48.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on COKE. Weiss Ratings reissued a "buy (b)" rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. Wall Street Zen lowered shares of Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy".

Coca-Cola Consolidated Price Performance

COKE opened at $189.33 on Monday. The company has a market capitalization of $12.60 billion, a PE ratio of 25.11 and a beta of 0.56. Coca-Cola Consolidated, Inc. has a fifty-two week low of $110.60 and a fifty-two week high of $219.65. The business has a 50-day moving average of $187.44 and a 200-day moving average of $188.60.

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 during the quarter.

Coca-Cola Consolidated Dividend Announcement

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

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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