Coca-Cola Consolidated, Inc. $COKE Shares Sold by Invesco Ltd.

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 Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 10.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 111,958 shares of the company's stock after selling 13,045 shares during the quarter. Invesco Ltd. owned about 1.28% of Coca-Cola Consolidated worth $151,143,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. lifted its stake in Coca-Cola Consolidated by 4.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,400 shares of the company's stock valued at $1,764,000 after buying an additional 56 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Coca-Cola Consolidated by 17.7% during the fourth quarter. Bank of Montreal Can now owns 1,203 shares of the company's stock worth $1,516,000 after purchasing an additional 181 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Coca-Cola Consolidated during the fourth quarter worth $228,000. Raymond James Financial Inc. acquired a new stake in shares of Coca-Cola Consolidated during the fourth quarter worth $27,078,000. Finally, Sterling Capital Management LLC lifted its holdings in shares of Coca-Cola Consolidated by 60.0% during the fourth quarter. Sterling Capital Management LLC now owns 360 shares of the company's stock worth $454,000 after purchasing an additional 135 shares during the period. 48.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Coca-Cola Consolidated Trading Up 2.3%

NASDAQ:COKE traded up $2.63 during mid-day trading on Monday, reaching $115.68. The company's stock had a trading volume of 280,925 shares, compared to its average volume of 566,063. The company's fifty day simple moving average is $112.44 and its two-hundred day simple moving average is $131.00. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.04 and a quick ratio of 1.78. Coca-Cola Consolidated, Inc. has a twelve month low of $105.21 and a twelve month high of $146.09. The stock has a market cap of $10.05 billion, a P/E ratio of 17.26 and a beta of 0.81.

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

Coca-Cola Consolidated Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Friday, July 25th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, July 25th. Coca-Cola Consolidated's dividend payout ratio is presently 14.93%.

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.