Vestcor Inc Trims Stake in Coca-Cola Consolidated, Inc. $COKE

Vestcor Inc reduced its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 21.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 15,436 shares of the company’s stock after selling 4,335 shares during the period. Vestcor Inc’s holdings in Coca-Cola Consolidated were worth $2,366,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in COKE. Envestnet Asset Management Inc. increased its stake in Coca-Cola Consolidated by 320.8% in the third quarter. Envestnet Asset Management Inc. now owns 82,171 shares of the company’s stock valued at $9,627,000 after purchasing an additional 62,645 shares during the period. JPMorgan Chase & Co. increased its stake in Coca-Cola Consolidated by 11.0% in the third quarter. JPMorgan Chase & Co. now owns 244,805 shares of the company’s stock valued at $28,681,000 after purchasing an additional 24,278 shares during the period. Vanguard Group Inc. increased its stake in Coca-Cola Consolidated by 6.4% in the fourth quarter. Vanguard Group Inc. now owns 5,686,058 shares of the company’s stock valued at $871,673,000 after purchasing an additional 341,374 shares during the period. Natixis Advisors LLC increased its stake in Coca-Cola Consolidated by 122.1% in the third quarter. Natixis Advisors LLC now owns 107,106 shares of the company’s stock valued at $12,548,000 after purchasing an additional 58,890 shares during the period. Finally, HighTower Advisors LLC increased its stake in Coca-Cola Consolidated by 76.8% in the third quarter. HighTower Advisors LLC now owns 18,039 shares of the company’s stock valued at $2,114,000 after purchasing an additional 7,834 shares during the period. 48.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Friday, March 27th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Coca-Cola Consolidated Price Performance

Shares of NASDAQ:COKE opened at $179.91 on Monday. The company has a market cap of $11.97 billion, a price-to-earnings ratio of 24.61 and a beta of 0.55. The firm’s 50-day simple moving average is $185.72 and its 200-day simple moving average is $175.40. The company has a quick ratio of 0.91, a current ratio of 1.23 and a debt-to-equity ratio of 0.88. Coca-Cola Consolidated, Inc. has a fifty-two week low of $105.44 and a fifty-two week high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its earnings results on Wednesday, May 6th. The company reported $1.79 earnings per share for the quarter. The business had revenue of $1.71 billion for the quarter. Coca-Cola Consolidated had a net margin of 7.72% and a return on equity of 138.44%.

Coca-Cola Consolidated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Friday, April 24th were issued a $0.25 dividend. 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 payout ratio is presently 13.68%.

Coca-Cola Consolidated Company 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.