Sovereign s Capital Management LLC Sells 8,287 Shares of Coca-Cola Consolidated, Inc. $COKE

Sovereign s Capital Management LLC trimmed its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 52.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,506 shares of the company’s stock after selling 8,287 shares during the period. Sovereign s Capital Management LLC’s holdings in Coca-Cola Consolidated were worth $1,151,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Torren Management LLC bought a new stake in Coca-Cola Consolidated in the 4th quarter valued at about $29,000. Morse Asset Management Inc bought a new stake in Coca-Cola Consolidated in the 4th quarter valued at about $31,000. Quarry LP bought a new stake in Coca-Cola Consolidated during the 3rd quarter worth approximately $25,000. Advisory Services Network LLC bought a new stake in Coca-Cola Consolidated during the 3rd quarter worth approximately $25,000. Finally, Smartleaf Asset Management LLC increased its holdings in Coca-Cola Consolidated by 175.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 220 shares of the company’s stock worth $26,000 after purchasing an additional 140 shares in the last quarter. 48.24% of the stock is owned by institutional investors.

Coca-Cola Consolidated Stock Performance

Shares of COKE opened at $186.16 on Wednesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.91 and a current ratio of 1.23. The stock has a 50 day moving average price of $185.15 and a two-hundred day moving average price of $176.54. The firm has a market capitalization of $12.39 billion, a P/E ratio of 25.47 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 52 week low of $105.44 and a 52 week high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.79 EPS for the quarter. The firm had revenue of $1.71 billion during the quarter. Coca-Cola Consolidated had a return on equity of 138.44% and a net margin of 7.72%.

Coca-Cola Consolidated Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, April 24th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Friday, April 24th. Coca-Cola Consolidated’s payout ratio is currently 13.68%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Coca-Cola Consolidated Company Profile

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.