Invesco Ltd. Cuts Holdings in Coca-Cola Consolidated, Inc. $COKE

Key Points

• Invesco Ltd. decreased its stake in Coca-Cola Consolidated, Inc. by 10.4%, selling 13,045 shares in the first quarter, and now holds 111,958 shares valued at approximately $151 million.
• The company's stock is currently trading at $113.05, with a market capitalization of $9.82 billion, and a P/E ratio of 16.87.
• Coca-Cola Consolidated announced a quarterly dividend of $0.25 per share, representing a 0.9% yield and a dividend payout ratio of 14.93%.

Invesco Ltd. trimmed its holdings in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 10.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 111,958 shares of the company's stock after selling 13,045 shares during the period. Invesco Ltd. owned approximately 1.28% of Coca-Cola Consolidated worth $151,143,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Townsquare Capital LLC lifted its holdings in shares of Coca-Cola Consolidated by 34.7% during the first quarter. Townsquare Capital LLC now owns 338 shares of the company's stock valued at $456,000 after purchasing an additional 87 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Coca-Cola Consolidated by 2.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 53,442 shares of the company's stock valued at $72,147,000 after purchasing an additional 1,497 shares during the last quarter. ROI Financial Advisors LLC lifted its holdings in shares of Coca-Cola Consolidated by 23.6% during the first quarter. ROI Financial Advisors LLC now owns 664 shares of the company's stock valued at $896,000 after purchasing an additional 127 shares during the last quarter. ING Groep NV bought a new position in Coca-Cola Consolidated in the 1st quarter valued at approximately $1,080,000. Finally, Bank of Nova Scotia bought a new position in Coca-Cola Consolidated in the 1st quarter valued at approximately $1,202,000. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Trading Up 1.6%

Coca-Cola Consolidated stock traded up $1.82 during midday trading on Tuesday, reaching $117.47. The stock had a trading volume of 165,974 shares, compared to its average volume of 565,018. The company has a quick ratio of 1.78, a current ratio of 2.04 and a debt-to-equity ratio of 0.88. Coca-Cola Consolidated, Inc. has a 52-week low of $105.21 and a 52-week high of $146.09. The firm has a market cap of $10.21 billion, a price-to-earnings ratio of 17.54 and a beta of 0.81. The company has a fifty day moving average of $112.55 and a 200 day moving average of $130.85.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $2.24 earnings per share for the quarter. Coca-Cola Consolidated had a net margin of 8.43% and a return on equity of 44.91%. The company had revenue of $1.86 billion for the quarter.

Coca-Cola Consolidated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Friday, July 25th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, July 25th. Coca-Cola Consolidated's payout ratio is currently 14.93%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Coca-Cola Consolidated from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th.

Coca-Cola Consolidated Profile

Coca-Cola Consolidated, Inc, together with its subsidiaries, manufactures, markets, and distributes nonalcoholic beverages primarily products of The Coca-Cola Company in the United States. The company offers sparkling beverages; and still beverages, including energy products, as well as noncarbonated beverages comprising bottled water, ready to drink coffee and tea, enhanced water, juices, and sports drinks.