Public Employees Retirement Association of Colorado Sells 149 Shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Public Employees Retirement Association of Colorado reduced its holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 0.5% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,595 shares of the company’s stock after selling 149 shares during the quarter. Public Employees Retirement Association of Colorado owned 0.29% of Coca-Cola Consolidated worth $23,357,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in Coca-Cola Consolidated during the fourth quarter valued at approximately $188,138,000. International Assets Investment Management LLC purchased a new position in Coca-Cola Consolidated in the fourth quarter worth $174,971,000. Vaughan Nelson Investment Management L.P. bought a new position in Coca-Cola Consolidated in the fourth quarter valued at $40,449,000. Hennessy Advisors Inc. purchased a new stake in Coca-Cola Consolidated during the fourth quarter valued at about $30,318,000. Finally, Vanguard Group Inc. lifted its stake in Coca-Cola Consolidated by 5.3% during the first quarter. Vanguard Group Inc. now owns 608,875 shares of the company’s stock worth $515,358,000 after purchasing an additional 30,443 shares during the last quarter. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut Coca-Cola Consolidated from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 23rd.

Insider Activity

In other Coca-Cola Consolidated news, major shareholder Cola Co Coca sold 598,619 shares of the stock in a transaction on Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the sale, the insider now owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Coca-Cola Consolidated Trading Down 1.5 %

Shares of Coca-Cola Consolidated stock traded down $16.70 during trading on Monday, reaching $1,113.95. The company’s stock had a trading volume of 18,618 shares, compared to its average volume of 54,366. The company has a market cap of $10.44 billion, a price-to-earnings ratio of 22.94 and a beta of 0.78. The firm’s 50-day moving average is $1,041.48 and its two-hundred day moving average is $921.86. Coca-Cola Consolidated, Inc. has a 52-week low of $614.22 and a 52-week high of $1,137.06. The company has a quick ratio of 1.47, a current ratio of 1.87 and a debt-to-equity ratio of 0.38.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings results on Monday, May 6th. The company reported $17.31 earnings per share (EPS) for the quarter. The business had revenue of $1.59 billion during the quarter. Coca-Cola Consolidated had a net margin of 6.83% and a return on equity of 42.10%.

Coca-Cola Consolidated Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 26th will be given a $0.50 dividend. The ex-dividend date of this dividend is Friday, July 26th. This represents a $2.00 annualized dividend and a yield of 0.18%. Coca-Cola Consolidated’s payout ratio is currently 4.12%.

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.