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

Vest Financial LLC bought a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The firm bought 2,649 shares of the company's stock, valued at approximately $3,576,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Coca-Cola Consolidated by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 578,916 shares of the company's stock worth $729,428,000 after purchasing an additional 7,106 shares during the period. Proficio Capital Partners LLC increased its stake in shares of Coca-Cola Consolidated by 197,133.5% in the 4th quarter. Proficio Capital Partners LLC now owns 453,637 shares of the company's stock worth $571,578,000 after acquiring an additional 453,407 shares in the last quarter. Norges Bank bought a new position in shares of Coca-Cola Consolidated in the 4th quarter worth about $284,418,000. GAMMA Investing LLC increased its stake in shares of Coca-Cola Consolidated by 175,140.4% in the 1st quarter. GAMMA Investing LLC now owns 182,250 shares of the company's stock worth $246,038,000 after acquiring an additional 182,146 shares in the last quarter. Finally, FMR LLC increased its stake in shares of Coca-Cola Consolidated by 1.6% in the 4th quarter. FMR LLC now owns 131,508 shares of the company's stock worth $165,698,000 after acquiring an additional 2,021 shares in the last quarter. 48.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of Coca-Cola Consolidated from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 10th.

Coca-Cola Consolidated Stock Up 1.3%

Shares of Coca-Cola Consolidated stock traded up $1.45 during trading on Monday, hitting $110.11. The company's stock had a trading volume of 518,326 shares, compared to its average volume of 517,302. The company has a debt-to-equity ratio of 1.39, a quick ratio of 2.15 and a current ratio of 2.47. The company has a fifty day simple moving average of $144.73 and a two-hundred day simple moving average of $136.58. The company has a market capitalization of $9.60 billion, a PE ratio of 1.58 and a beta of 0.81. Coca-Cola Consolidated, Inc. has a 52 week low of $96.50 and a 52 week high of $146.09.

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

Coca-Cola Consolidated Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, April 25th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, April 25th. This represents a $1.00 dividend on an annualized basis and a yield of 0.91%. Coca-Cola Consolidated's dividend payout ratio is currently 15.60%.

Coca-Cola Consolidated Company 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.