Cornercap Investment Counsel Inc. Sells 1,586 Shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Cornercap Investment Counsel Inc. lessened its holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 74.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 551 shares of the company's stock after selling 1,586 shares during the period. Cornercap Investment Counsel Inc.'s holdings in Coca-Cola Consolidated were worth $512,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. First Command Advisory Services Inc. acquired a new stake in shares of Coca-Cola Consolidated in the third quarter valued at about $38,000. Fifth Third Bancorp grew its holdings in shares of Coca-Cola Consolidated by 163.0% during the 3rd quarter. Fifth Third Bancorp now owns 71 shares of the company's stock worth $45,000 after purchasing an additional 44 shares during the period. Macquarie Group Ltd. boosted its stake in Coca-Cola Consolidated by 34.3% during the fourth quarter. Macquarie Group Ltd. now owns 90 shares of the company's stock worth $46,000 after buying an additional 23 shares during the period. Sunbelt Securities Inc. increased its holdings in Coca-Cola Consolidated by 100.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 74 shares of the company's stock valued at $47,000 after purchasing an additional 37 shares during the last quarter. Finally, Covestor Ltd grew its stake in shares of Coca-Cola Consolidated by 5,600.0% in the first quarter. Covestor Ltd now owns 114 shares of the company's stock valued at $57,000 after buying an additional 112 shares in the last quarter. Institutional investors and hedge funds own 48.24% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Coca-Cola Consolidated from a "buy" rating to a "strong-buy" rating in a research note on Friday, February 23rd.

Coca-Cola Consolidated Stock Down 0.2 %

COKE stock traded down $1.23 during midday trading on Wednesday, hitting $811.64. The company's stock had a trading volume of 37,648 shares, compared to its average volume of 46,122. The firm has a 50-day simple moving average of $838.13 and a 200-day simple moving average of $797.36. The firm has a market capitalization of $7.61 billion, a P/E ratio of 18.70 and a beta of 0.74. The company has a quick ratio of 1.27, a current ratio of 1.56 and a debt-to-equity ratio of 0.42. Coca-Cola Consolidated, Inc. has a 52-week low of $533.91 and a 52-week high of $961.91.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $13.39 earnings per share (EPS) for the quarter. Coca-Cola Consolidated had a return on equity of 44.12% and a net margin of 6.14%. The company had revenue of $1.63 billion for the quarter.

Coca-Cola Consolidated Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.25%. The ex-dividend date is Thursday, April 25th. Coca-Cola Consolidated's dividend payout ratio (DPR) is presently 4.60%.

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.