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

Trust Point Inc. trimmed its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 9.5% during the third quarter, HoldingsChannel.com reports. 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Coca-Cola Consolidated Price Performance

Shares of COKE opened at $1,287.48 on Friday. The firm has a market capitalization of $12.07 billion, a PE ratio of 26.51 and a beta of 0.82. The stock’s 50 day moving average is $1,298.07 and its two-hundred day moving average is $1,101.85. Coca-Cola Consolidated, Inc. has a twelve month low of $621.18 and a twelve month high of $1,376.84. 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 posted its quarterly earnings results on Wednesday, July 31st. The company reported $20.71 earnings per share for the quarter. The firm had revenue of $1.80 billion for the quarter. Coca-Cola Consolidated had a return on equity of 44.83% and a net margin of 7.52%.

Coca-Cola Consolidated Increases Dividend

The business also recently declared 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. The ex-dividend date is Friday, October 25th. This is a boost from Coca-Cola Consolidated’s previous dividend of $0.25. 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.