State of Alaska Department of Revenue Sells 22,140 Shares of Coca-Cola Consolidated, Inc. $COKE

Key Points

• State of Alaska Department of Revenue sold 22,140 shares of Coca‑Cola Consolidated, reducing its stake by 56.2% to 17,275 shares valued at $2.647 million per the latest 13F filing.
• Coca‑Cola Consolidated announced a $0.25 quarterly dividend (annual $1.00, yield ~0.5%) with an ex‑dividend date of April 24 and pay date May 8; the company reported Q4 EPS of $2.11 on $1.90 billion in revenue and a 7.89% net margin.
• The stock has a market cap of $12.66 billion and a P/E of 27.9, Weiss Ratings reiterated a "Buy," and institutional investors own about 48.24% of the company.

State of Alaska Department of Revenue lowered its position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 56.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,275 shares of the company's stock after selling 22,140 shares during the period. State of Alaska Department of Revenue's holdings in Coca-Cola Consolidated were worth $2,647,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Retirement Guys Formula LLC purchased a new stake in Coca-Cola Consolidated in the 4th quarter worth approximately $220,000. Old North State Wealth Management LLC grew its position in shares of Coca-Cola Consolidated by 6.4% during the 4th quarter. Old North State Wealth Management LLC now owns 2,113 shares of the company's stock valued at $324,000 after purchasing an additional 128 shares in the last quarter. Choreo LLC grew its position in shares of Coca-Cola Consolidated by 13.8% during the 4th quarter. Choreo LLC now owns 2,624 shares of the company's stock valued at $406,000 after purchasing an additional 318 shares in the last quarter. KG&L Capital Management LLC increased its holdings in shares of Coca-Cola Consolidated by 19.1% in the fourth quarter. KG&L Capital Management LLC now owns 8,425 shares of the company's stock worth $1,292,000 after purchasing an additional 1,350 shares during the period. Finally, Ritholtz Wealth Management increased its holdings in shares of Coca-Cola Consolidated by 1.8% in the fourth quarter. Ritholtz Wealth Management now owns 20,219 shares of the company's stock worth $3,100,000 after purchasing an additional 352 shares during the period. Institutional investors own 48.24% of the company's stock.

Coca-Cola Consolidated Stock Up 2.2%

COKE stock opened at $190.18 on Friday. The company's 50 day moving average is $192.41 and its 200 day moving average is $163.48. The stock has a market cap of $12.66 billion, a price-to-earnings ratio of 27.90 and a beta of 0.61. The company has a current ratio of 1.26, a quick ratio of 0.97 and a debt-to-equity ratio of 0.88. Coca-Cola Consolidated, Inc. has a 1-year low of $105.21 and a 1-year high of $219.65.

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

Coca-Cola Consolidated Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Friday, April 24th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, April 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. Coca-Cola Consolidated's dividend payout ratio is presently 14.66%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a "buy (b)" rating on shares of Coca-Cola Consolidated in a research report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Coca-Cola Consolidated currently has an average rating of "Buy".

About Coca-Cola Consolidated

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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