Coca-Cola Consolidated, Inc. $COKE Stake Lowered by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd decreased its stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 54.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,857 shares of the company’s stock after selling 18,009 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Coca-Cola Consolidated were worth $2,849,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Beacon Pointe Advisors LLC grew its position in shares of Coca-Cola Consolidated by 2.6% during the fourth quarter. Beacon Pointe Advisors LLC now owns 2,842 shares of the company’s stock worth $436,000 after acquiring an additional 72 shares during the last quarter. UMB Bank n.a. boosted its stake in Coca-Cola Consolidated by 8.9% during the 4th quarter. UMB Bank n.a. now owns 951 shares of the company’s stock valued at $146,000 after purchasing an additional 78 shares during the period. Legacy Wealth Asset Management LLC boosted its stake in Coca-Cola Consolidated by 2.3% during the 4th quarter. Legacy Wealth Asset Management LLC now owns 4,021 shares of the company’s stock valued at $616,000 after purchasing an additional 89 shares during the period. Private Advisor Group LLC grew its position in Coca-Cola Consolidated by 2.2% in the 3rd quarter. Private Advisor Group LLC now owns 4,297 shares of the company’s stock worth $503,000 after purchasing an additional 94 shares during the last quarter. Finally, Foundations Investment Advisors LLC increased its stake in shares of Coca-Cola Consolidated by 4.2% in the fourth quarter. Foundations Investment Advisors LLC now owns 2,406 shares of the company’s stock valued at $369,000 after purchasing an additional 97 shares during the period. 48.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy”.

Coca-Cola Consolidated Trading Down 5.5%

Shares of Coca-Cola Consolidated stock opened at $177.64 on Wednesday. The company’s 50-day moving average price is $182.69 and its two-hundred day moving average price is $178.85. The stock has a market cap of $11.82 billion, a PE ratio of 24.30 and a beta of 0.54. Coca-Cola Consolidated, Inc. has a 52 week low of $109.42 and a 52 week high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE) last released its earnings results on Wednesday, May 6th. The company reported $1.79 EPS for the quarter. The business 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Friday, April 24th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, April 24th. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is currently 13.68%.

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.