HighTower Advisors LLC Sells 10,160 Shares of Coca-Cola Consolidated, Inc. $COKE

Key Points

• HighTower Advisors reduced its Coca-Cola Consolidated stake by 31.5% in the second quarter, selling 10,160 shares and retaining 22,048 shares worth approximately $4.21 million.
• Institutional investors own 48.24% of COKE, while several smaller investment firms recently initiated or increased positions.
• Coca-Cola Consolidated reported quarterly revenue of $2.05 billion and earnings of $2.83 per share. Analysts maintain a consensus “Buy” rating, and the company declared a quarterly dividend of $0.25 per share.

HighTower Advisors LLC decreased its holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 31.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,048 shares of the company's stock after selling 10,160 shares during the quarter. HighTower Advisors LLC's holdings in Coca-Cola Consolidated were worth $4,209,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Quarry LP bought a new position in shares of Coca-Cola Consolidated in the third quarter worth $25,000. Advisory Services Network LLC bought a new stake in shares of Coca-Cola Consolidated during the 3rd quarter worth approximately $25,000. J.Safra Asset Management Corp bought a new stake in shares of Coca-Cola Consolidated during the 2nd quarter worth approximately $26,000. Newbridge Financial Services Group Inc. lifted its holdings in shares of 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. Finally, Geneos Wealth Management Inc. boosted its position in shares of Coca-Cola Consolidated by 900.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 250 shares of the company's stock worth $28,000 after acquiring an additional 225 shares in the last quarter. Institutional investors own 48.24% of the company's stock.

Wall Street Analysts Forecast Growth

COKE has been the subject of a number of research analyst reports. Weiss Ratings reissued a "buy (b)" rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. Wall Street Zen lowered Coca-Cola Consolidated from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy".

Coca-Cola Consolidated Price Performance

Coca-Cola Consolidated stock opened at $192.61 on Friday. The stock's 50 day moving average is $187.03 and its 200 day moving average is $189.05. Coca-Cola Consolidated, Inc. has a one year low of $110.60 and a one year high of $219.65. The firm has a market cap of $12.82 billion, a P/E ratio of 25.55 and a beta of 0.56.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 earnings per share for the quarter. Coca-Cola Consolidated had a net margin of 7.15% and a negative return on equity of 1,041.59%. The company 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. Shareholders of record on Friday, July 24th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Friday, July 24th. Coca-Cola Consolidated's dividend payout ratio (DPR) is presently 13.26%.

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, sells, markets and distributes beverages produced under The Coca-Cola Company's brands, as well as a selection of other beverage products.

Its portfolio includes Coca-Cola, Diet Coke, Coca-Cola Zero Sugar, Sprite, Fanta, DASANI, smartwater, Powerade, Minute Maid, Simply, fairlife and Topo Chico, along with other brands and products available in its distribution territories.

Want to see what other hedge funds are holding COKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.