Raymond James & Associates Trims Stock Position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Raymond James & Associates trimmed its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 4.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 775 shares of the company’s stock after selling 38 shares during the quarter. Raymond James & Associates’ holdings in Coca-Cola Consolidated were worth $720,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. First Command Advisory Services Inc. purchased a new position in Coca-Cola Consolidated in the 3rd quarter valued at $38,000. Fifth Third Bancorp increased its stake in shares of Coca-Cola Consolidated by 163.0% during the third quarter. Fifth Third Bancorp now owns 71 shares of the company’s stock worth $45,000 after acquiring an additional 44 shares during the period. Sunbelt Securities Inc. raised its holdings in Coca-Cola Consolidated by 100.0% during the third quarter. Sunbelt Securities Inc. now owns 74 shares of the company’s stock worth $47,000 after purchasing an additional 37 shares in the last quarter. Covestor Ltd raised its holdings in Coca-Cola Consolidated by 40.4% during the third quarter. Covestor Ltd now owns 132 shares of the company’s stock worth $85,000 after purchasing an additional 38 shares in the last quarter. Finally, Larson Financial Group LLC boosted its holdings in Coca-Cola Consolidated by 132.9% in the 3rd quarter. Larson Financial Group LLC now owns 177 shares of the company’s stock valued at $112,000 after purchasing an additional 101 shares in the last quarter. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Price Performance

Coca-Cola Consolidated stock opened at $831.01 on Wednesday. The company has a market cap of $7.79 billion, a P/E ratio of 19.07 and a beta of 0.74. Coca-Cola Consolidated, Inc. has a one year low of $552.36 and a one year high of $961.91. The business has a fifty day moving average of $833.69 and a two-hundred day moving average of $802.38. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.27 and a current ratio of 1.56.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $13.39 EPS for the quarter. Coca-Cola Consolidated had a net margin of 6.14% and a return on equity of 44.12%. The firm had revenue of $1.63 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend is Thursday, April 25th. Coca-Cola Consolidated’s dividend payout ratio is currently 4.60%.

Analyst Ratings Changes

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

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.