Numerai GP LLC Sells 35,839 Shares of Coca-Cola Consolidated, Inc. $COKE

Key Points

• Numerai GP LLC cut its stake in Coca‑Cola Consolidated by 61.9%, selling 35,839 shares in Q3 and now holds 22,093 shares valued at $2.588 million.
• COKE opened at $213.53 with a market cap of $14.21 billion, a P/E of 31.32 and a 52‑week range of $105.21–$219.65, and roughly 48.24% of the stock is held by institutional investors.
• The company reported quarterly EPS of $2.11 on $1.90 billion in revenue, a return on equity of 66.42%, and pays a $0.25 quarterly dividend (annual yield ~0.5%, DPR 14.66%).

Numerai GP LLC decreased its position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 61.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,093 shares of the company's stock after selling 35,839 shares during the period. Numerai GP LLC's holdings in Coca-Cola Consolidated were worth $2,588,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in COKE. Fifth Third Bancorp boosted its stake in Coca-Cola Consolidated by 16.0% during the third quarter. Fifth Third Bancorp now owns 528 shares of the company's stock valued at $62,000 after buying an additional 73 shares during the last quarter. Blue Trust Inc. increased its stake in Coca-Cola Consolidated by 9.8% in the 3rd quarter. Blue Trust Inc. now owns 909 shares of the company's stock worth $106,000 after acquiring an additional 81 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of Coca-Cola Consolidated by 2.2% during the 3rd quarter. Private Advisor Group LLC now owns 4,297 shares of the company's stock worth $503,000 after acquiring an additional 94 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of Coca-Cola Consolidated by 0.8% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 12,080 shares of the company's stock worth $1,415,000 after acquiring an additional 100 shares in the last quarter. Finally, Forum Financial Management LP boosted its position in shares of Coca-Cola Consolidated by 5.4% during the 3rd quarter. Forum Financial Management LP now owns 2,014 shares of the company's stock valued at $236,000 after acquiring an additional 103 shares during the last quarter. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Price Performance

Shares of Coca-Cola Consolidated stock opened at $213.53 on Tuesday. The stock has a market cap of $14.21 billion, a price-to-earnings ratio of 31.32 and a beta of 0.60. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.97 and a current ratio of 1.26. The stock has a 50 day moving average price of $171.15 and a 200-day moving average price of $150.99. Coca-Cola Consolidated, Inc. has a one year low of $105.21 and a one year high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last released its quarterly earnings results on Wednesday, February 18th. The company reported $2.11 earnings per share for the quarter. The company had revenue of $1.90 billion for the quarter. Coca-Cola Consolidated had a return on equity of 66.42% and a net margin of 7.89%.

Coca-Cola Consolidated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 6th. Stockholders of record on Friday, January 23rd were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Friday, January 23rd. Coca-Cola Consolidated's dividend payout ratio (DPR) is 14.66%.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "buy (b)" rating on shares of Coca-Cola Consolidated in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Coca-Cola Consolidated presently has an average rating of "Buy".

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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