Flynn Zito Capital Management LLC Sells 51 Shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Flynn Zito Capital Management LLC lowered its position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 3.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,518 shares of the company’s stock after selling 51 shares during the period. Coca-Cola Consolidated comprises approximately 0.8% of Flynn Zito Capital Management LLC’s holdings, making the stock its 21st largest holding. Flynn Zito Capital Management LLC’s holdings in Coca-Cola Consolidated were worth $1,647,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Quest Partners LLC purchased a new stake in Coca-Cola Consolidated during the fourth quarter worth $31,000. EntryPoint Capital LLC bought a new position in shares of Coca-Cola Consolidated in the 1st quarter worth $30,000. GAMMA Investing LLC lifted its stake in shares of Coca-Cola Consolidated by 137.0% during the 2nd quarter. GAMMA Investing LLC now owns 64 shares of the company’s stock worth $69,000 after purchasing an additional 37 shares during the last quarter. Signaturefd LLC boosted its position in Coca-Cola Consolidated by 15.3% during the second quarter. Signaturefd LLC now owns 68 shares of the company’s stock valued at $74,000 after purchasing an additional 9 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Coca-Cola Consolidated by 102.9% during the first quarter. EverSource Wealth Advisors LLC now owns 69 shares of the company’s stock valued at $57,000 after purchasing an additional 35 shares in the last quarter. 48.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Coca-Cola Consolidated Price Performance

Shares of COKE opened at $1,329.90 on Friday. The company has a 50 day moving average of $1,204.55 and a two-hundred day moving average of $1,005.94. The company has a quick ratio of 1.75, a current ratio of 1.97 and a debt-to-equity ratio of 1.50. Coca-Cola Consolidated, Inc. has a twelve month low of $614.22 and a twelve month high of $1,374.25. The company has a market cap of $12.47 billion, a price-to-earnings ratio of 27.39 and a beta of 0.78.

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

Coca-Cola Consolidated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were paid a dividend of $0.50 per share. The ex-dividend date was Friday, July 26th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.15%. Coca-Cola Consolidated’s payout ratio is 20.59%.

Insider Activity

In related news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola Consolidated stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $925.00, for a total value of $553,722,575.00. Following the completion of the sale, the insider now directly owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Coca-Cola Consolidated 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.