Coca-Cola Consolidated, Inc. $COKE Shares Sold by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. significantly reduced its stake in Coca-Cola Consolidated, Inc. by 94.2%, selling 13,897 shares and leaving it with only 849 shares valued at $1,147,000.
• Other institutional investors have varied their stakes, with Hsbc Holdings PLC increasing its holdings by 76.9% and Quantbot Technologies LP boosting its position by 212.1% during the same quarter.
• Coca-Cola Consolidated has announced a quarterly dividend of $0.25 per share, reflecting a 0.8% dividend yield based on its annualized payout.

T. Rowe Price Investment Management Inc. lessened its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 94.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 849 shares of the company's stock after selling 13,897 shares during the quarter. T. Rowe Price Investment Management Inc.'s holdings in Coca-Cola Consolidated were worth $1,147,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Linden Thomas Advisory Services LLC grew its stake in Coca-Cola Consolidated by 3.5% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 265 shares of the company's stock valued at $358,000 after buying an additional 9 shares in the last quarter. Sunbelt Securities Inc. grew its position in Coca-Cola Consolidated by 10.8% in the fourth quarter. Sunbelt Securities Inc. now owns 103 shares of the company's stock worth $128,000 after acquiring an additional 10 shares in the last quarter. State of Alaska Department of Revenue grew its position in Coca-Cola Consolidated by 0.3% in the first quarter. State of Alaska Department of Revenue now owns 3,973 shares of the company's stock worth $5,363,000 after acquiring an additional 10 shares in the last quarter. HBK Sorce Advisory LLC lifted its stake in Coca-Cola Consolidated by 2.9% in the first quarter. HBK Sorce Advisory LLC now owns 357 shares of the company's stock worth $481,000 after purchasing an additional 10 shares during the last quarter. Finally, Monument Capital Management lifted its stake in Coca-Cola Consolidated by 0.3% in the first quarter. Monument Capital Management now owns 3,955 shares of the company's stock worth $5,339,000 after purchasing an additional 10 shares during the last quarter. Institutional investors own 48.24% of the company's stock.

Coca-Cola Consolidated Price Performance

Coca-Cola Consolidated stock traded up $0.85 during mid-day trading on Friday, hitting $117.06. The stock had a trading volume of 139,319 shares, compared to its average volume of 558,042. The firm has a market capitalization of $10.17 billion, a P/E ratio of 17.46 and a beta of 0.81. The company has a current ratio of 2.04, a quick ratio of 1.78 and a debt-to-equity ratio of 0.88. The firm's 50 day moving average is $114.10 and its 200 day moving average is $129.84. Coca-Cola Consolidated, Inc. has a one year low of $105.21 and a one year high of $146.09.

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

Coca-Cola Consolidated Dividend Announcement

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

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Coca-Cola Consolidated from a "hold" rating to a "buy" rating in a research note 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.