Intech Investment Management LLC Lowers Stock Holdings in Coca-Cola Consolidated, Inc. $COKE

Intech Investment Management LLC reduced its holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 38.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,776 shares of the company’s stock after selling 11,628 shares during the quarter. Intech Investment Management LLC’s holdings in Coca-Cola Consolidated were worth $2,200,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Fifth Third Bancorp increased its stake in shares of Coca-Cola Consolidated by 16.0% during the 3rd quarter. Fifth Third Bancorp now owns 528 shares of the company’s stock valued at $62,000 after acquiring an additional 73 shares during the last quarter. Blue Trust Inc. grew its holdings in Coca-Cola Consolidated by 9.8% in the third quarter. Blue Trust Inc. now owns 909 shares of the company’s stock valued at $106,000 after purchasing an additional 81 shares during the period. Oregon Public Employees Retirement Fund increased its position in Coca-Cola Consolidated by 0.8% during the third quarter. Oregon Public Employees Retirement Fund now owns 12,080 shares of the company’s stock worth $1,415,000 after purchasing an additional 100 shares during the last quarter. Forum Financial Management LP raised its stake in Coca-Cola Consolidated by 5.4% during the third quarter. Forum Financial Management LP now owns 2,014 shares of the company’s stock worth $236,000 after purchasing an additional 103 shares during the period. Finally, HighPoint Advisor Group LLC raised its stake in Coca-Cola Consolidated by 0.4% during the third quarter. HighPoint Advisor Group LLC now owns 25,849 shares of the company’s stock worth $3,028,000 after purchasing an additional 108 shares during the period. 48.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy”.

Coca-Cola Consolidated Price Performance

COKE opened at $204.75 on Wednesday. Coca-Cola Consolidated, Inc. has a 52-week low of $105.21 and a 52-week high of $209.24. The company has a 50 day moving average of $161.64 and a two-hundred day moving average of $145.19. The company has a market cap of $13.63 billion, a P/E ratio of 30.04 and a beta of 0.60. The company has a quick ratio of 0.97, a current ratio of 1.26 and a debt-to-equity ratio of 0.88.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its earnings results on Wednesday, February 18th. The company reported $2.11 earnings per share for the quarter. Coca-Cola Consolidated had a net margin of 7.89% and a return on equity of 66.42%. The business had revenue of $1.90 billion for the quarter.

Coca-Cola Consolidated Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 6th. Stockholders of record on Friday, January 23rd were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio is presently 14.66%.

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.