Vest Financial LLC Invests $3.58 Million in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Vest Financial LLC bought a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,649 shares of the company's stock, valued at approximately $3,576,000.

A number of other hedge funds also recently modified their holdings of COKE. Newbridge Financial Services Group Inc. bought a new stake in shares of Coca-Cola Consolidated in the fourth quarter valued at about $29,000. Allworth Financial LP lifted its stake in Coca-Cola Consolidated by 260.0% in the 4th quarter. Allworth Financial LP now owns 36 shares of the company's stock valued at $48,000 after purchasing an additional 26 shares during the last quarter. Wingate Wealth Advisors Inc. acquired a new stake in shares of Coca-Cola Consolidated during the 4th quarter valued at $52,000. Transce3nd LLC bought a new stake in shares of Coca-Cola Consolidated during the fourth quarter worth about $63,000. Finally, Signaturefd LLC grew its stake in shares of Coca-Cola Consolidated by 36.7% in the fourth quarter. Signaturefd LLC now owns 82 shares of the company's stock worth $103,000 after purchasing an additional 22 shares during the last quarter. Institutional investors and hedge funds own 48.24% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Coca-Cola Consolidated from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 10th.

Coca-Cola Consolidated Stock Up 0.9%

Coca-Cola Consolidated stock traded up $0.99 during midday trading on Tuesday, reaching $111.10. The stock had a trading volume of 482,021 shares, compared to its average volume of 516,893. The company has a fifty day moving average price of $144.17 and a two-hundred day moving average price of $136.40. Coca-Cola Consolidated, Inc. has a 12 month low of $96.50 and a 12 month high of $146.09. The company has a current ratio of 2.47, a quick ratio of 2.15 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $9.69 billion, a P/E ratio of 1.59 and a beta of 0.81.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $1.56 EPS for the quarter. Coca-Cola Consolidated had a return on equity of 49.88% and a net margin of 9.18%. The firm had revenue of $1.58 billion during the quarter.

Coca-Cola Consolidated Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 25th were issued a $0.25 dividend. The ex-dividend date was Friday, April 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.90%. Coca-Cola Consolidated's dividend payout ratio is presently 15.60%.

About Coca-Cola Consolidated

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.