Vestcor Inc Lowers Position in Coca-Cola Consolidated, Inc. $COKE

Vestcor Inc lowered its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 21.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 15,436 shares of the company’s stock after selling 4,335 shares during the period. Vestcor Inc’s holdings in Coca-Cola Consolidated were worth $2,366,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. First Command Advisory Services Inc. boosted its holdings in Coca-Cola Consolidated by 13.2% during the fourth quarter. First Command Advisory Services Inc. now owns 1,075 shares of the company’s stock worth $165,000 after buying an additional 125 shares in the last quarter. Patron Partners LLC boosted its holdings in Coca-Cola Consolidated by 13.9% during the fourth quarter. Patron Partners LLC now owns 4,419 shares of the company’s stock worth $677,000 after buying an additional 538 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its holdings in Coca-Cola Consolidated by 2,787.5% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 5,775 shares of the company’s stock worth $885,000 after buying an additional 5,575 shares in the last quarter. Prudential PLC purchased a new stake in Coca-Cola Consolidated during the fourth quarter worth about $3,043,000. Finally, Vise Technologies Inc. purchased a new stake in Coca-Cola Consolidated during the fourth quarter worth about $437,000. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Price Performance

COKE stock opened at $179.91 on Monday. The company has a market cap of $11.97 billion, a P/E ratio of 24.61 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. The company’s 50-day moving average price is $185.72 and its 200 day moving average price is $175.40. The company has a current ratio of 1.23, a quick ratio of 0.91 and a debt-to-equity ratio of 0.88.

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

Coca-Cola Consolidated Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, April 24th were given a dividend of $0.25 per share. The ex-dividend date was Friday, April 24th. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. Coca-Cola Consolidated’s payout ratio is presently 13.68%.

Analyst Ratings Changes

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 MarketBeat, Coca-Cola Consolidated has a consensus rating of “Buy”.

Coca-Cola Consolidated 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.