Coca-Cola Consolidated, Inc. $COKE Stock Sold by Reinhart Partners LLC.

Key Points

• Reinhart Partners cut its Coca-Cola Consolidated stake by 40.6% in the third quarter, selling 15,898 shares and retaining 23,304 shares valued at approximately $4.41 million.
• Coca-Cola Consolidated shares opened at $196.24, with the stock trading between a 52-week range of $123.38 and $219.65. The company has a market capitalization of about $13.06 billion, while institutional investors and hedge funds own 48.24% of shares.
• The company reported quarterly revenue of $2.05 billion and earnings of $2.83 per share. Analyst sentiment remains positive overall, with a consensus “Buy” rating despite one downgrade to “Hold.”

Reinhart Partners LLC. trimmed its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 40.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,304 shares of the company's stock after selling 15,898 shares during the quarter. Reinhart Partners LLC.'s holdings in Coca-Cola Consolidated were worth $4,411,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Coca-Cola Consolidated in the 2nd quarter valued at about $26,229,118,000. Biglari Sardar acquired a new position in Coca-Cola Consolidated in the second quarter worth about $8,959,855,000. Legal & General Group Plc bought a new stake in Coca-Cola Consolidated in the second quarter valued at about $1,978,267,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Coca-Cola Consolidated in the second quarter valued at about $1,591,427,000. Finally, GQG Partners LLC acquired a new stake in Coca-Cola Consolidated during the second quarter valued at approximately $1,494,498,000. 48.24% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Consolidated Price Performance

Shares of NASDAQ COKE opened at $196.24 on Friday. Coca-Cola Consolidated, Inc. has a 1-year low of $123.38 and a 1-year high of $219.65. The business's fifty day moving average price is $191.03 and its two-hundred day moving average price is $187.24. The firm has a market capitalization of $13.06 billion, a PE ratio of 26.03 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 earnings per share (EPS) for the quarter. The company had revenue of $2.05 billion during the quarter. Coca-Cola Consolidated had a net margin of 7.15% and a negative return on equity of 1,041.59%.

Analyst Ratings Changes

A number of research analysts have commented on COKE shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Coca-Cola Consolidated in a report on Monday, September 21st. Wall Street Zen lowered Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, Coca-Cola Consolidated currently has a consensus rating of "Buy".

Coca-Cola Consolidated Profile

Coca-Cola Consolidated, Inc is the largest Coca-Cola bottler in the United States. Headquartered in Charlotte, North Carolina, the company manufactures, packages, distributes and sells a broad portfolio of nonalcoholic beverages, including Coca-Cola, Diet Coke, Coca-Cola Zero Sugar, Sprite, Fanta, DASANI, smartwater, POWERADE and Topo Chico, along with other brands owned or licensed by The Coca-Cola Company and additional beverage partners.

The company serves customers across a territory covering portions of the Southeast, Mid-Atlantic and Midwest, including Alabama, Florida, Georgia, Kentucky, Maryland, Mississippi, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia and West Virginia, as well as the District of Columbia.

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