Trust Point Inc. Trims Stock Position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Trust Point Inc. decreased its stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 9.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 237 shares of the company’s stock after selling 25 shares during the period. Trust Point Inc.’s holdings in Coca-Cola Consolidated were worth $312,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. EntryPoint Capital LLC acquired a new position in Coca-Cola Consolidated in the first quarter valued at $30,000. V Square Quantitative Management LLC purchased a new stake in shares of Coca-Cola Consolidated in the 3rd quarter valued at about $37,000. EverSource Wealth Advisors LLC boosted its position in shares of Coca-Cola Consolidated by 102.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 69 shares of the company’s stock valued at $57,000 after purchasing an additional 35 shares during the period. UMB Bank n.a. grew its stake in Coca-Cola Consolidated by 41.9% during the 3rd quarter. UMB Bank n.a. now owns 44 shares of the company’s stock worth $58,000 after buying an additional 13 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Coca-Cola Consolidated during the 2nd quarter worth approximately $62,000. 48.24% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Price Performance

Shares of NASDAQ COKE opened at $1,287.48 on Friday. The stock has a market cap of $12.07 billion, a P/E ratio of 26.51 and a beta of 0.82. Coca-Cola Consolidated, Inc. has a twelve month low of $621.18 and a twelve month high of $1,376.84. The stock has a 50 day moving average of $1,298.07 and a two-hundred day moving average of $1,101.85. The company has a current ratio of 1.97, a quick ratio of 1.75 and a debt-to-equity ratio of 1.50.

Coca-Cola Consolidated (NASDAQ:COKE) last released its quarterly earnings results on Wednesday, July 31st. The company reported $20.71 EPS for the quarter. The firm had revenue of $1.80 billion during the quarter. Coca-Cola Consolidated had a net margin of 7.52% and a return on equity of 44.83%.

Coca-Cola Consolidated Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 25th will be paid a dividend of $2.50 per share. This is an increase from Coca-Cola Consolidated’s previous dividend of $0.25. The ex-dividend date of this dividend is Friday, October 25th. Coca-Cola Consolidated’s dividend payout ratio is 20.59%.

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.