BTS Asset Management Inc. Makes New $335,000 Investment in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

BTS Asset Management Inc. purchased a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 248 shares of the company’s stock, valued at approximately $335,000. Coca-Cola Consolidated makes up about 0.4% of BTS Asset Management Inc.’s investment portfolio, making the stock its 17th largest holding.

Other large investors also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its stake in Coca-Cola Consolidated by 260.0% during the fourth quarter. Allworth Financial LP now owns 36 shares of the company’s stock worth $48,000 after purchasing an additional 26 shares in the last quarter. Transce3nd LLC acquired a new stake in shares of Coca-Cola Consolidated in the fourth quarter valued at $63,000. Fifth Third Bancorp raised its stake in shares of Coca-Cola Consolidated by 40.9% in the first quarter. Fifth Third Bancorp now owns 62 shares of the company’s stock valued at $84,000 after acquiring an additional 18 shares in the last quarter. Signaturefd LLC raised its stake in shares of Coca-Cola Consolidated by 36.7% in the fourth quarter. Signaturefd LLC now owns 82 shares of the company’s stock valued at $103,000 after acquiring an additional 22 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in shares of Coca-Cola Consolidated by 70.6% in the first quarter. UMB Bank n.a. now owns 87 shares of the company’s stock valued at $117,000 after acquiring an additional 36 shares in the last quarter. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Consolidated Stock Up 1.5%

Shares of NASDAQ COKE opened at $109.83 on Friday. The stock has a market cap of $9.57 billion, a P/E ratio of 1.57 and a beta of 0.81. The company has a current ratio of 2.47, a quick ratio of 2.15 and a debt-to-equity ratio of 1.39. Coca-Cola Consolidated, Inc. has a 12-month low of $96.50 and a 12-month high of $146.09. The business’s fifty day simple moving average is $143.34 and its 200-day simple moving average is $136.07.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $1.56 earnings per share for the quarter. Coca-Cola Consolidated had a return on equity of 49.88% and a net margin of 9.18%. The company had revenue of $1.58 billion for the quarter.

Coca-Cola Consolidated Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, April 25th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend was Friday, April 25th. Coca-Cola Consolidated’s dividend payout ratio is presently 15.60%.

Analyst Ratings Changes

Separately, Wall Street Zen cut Coca-Cola Consolidated from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 10th.

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.