Goldman Sachs Group Inc. Sells 10,301 Shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Goldman Sachs Group Inc. cut its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 25.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,137 shares of the company’s stock after selling 10,301 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.32% of Coca-Cola Consolidated worth $27,979,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Janney Montgomery Scott LLC lifted its holdings in shares of Coca-Cola Consolidated by 98.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 2,326 shares of the company’s stock valued at $2,160,000 after acquiring an additional 1,153 shares during the period. Ontario Teachers Pension Plan Board raised its holdings in shares of Coca-Cola Consolidated by 295.1% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 5,014 shares of the company’s stock valued at $4,655,000 after buying an additional 3,745 shares during the last quarter. Hancock Whitney Corp raised its holdings in shares of Coca-Cola Consolidated by 12.3% in the fourth quarter. Hancock Whitney Corp now owns 13,187 shares of the company’s stock valued at $12,243,000 after buying an additional 1,444 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Coca-Cola Consolidated by 3.5% in the third quarter. Vanguard Group Inc. now owns 580,785 shares of the company’s stock valued at $369,565,000 after buying an additional 19,877 shares during the last quarter. Finally, Hobbs Group Advisors LLC bought a new position in shares of Coca-Cola Consolidated in the fourth quarter valued at about $1,075,000. 48.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Coca-Cola Consolidated Stock Performance

Coca-Cola Consolidated stock opened at $995.31 on Monday. The stock has a 50-day simple moving average of $935.54 and a 200 day simple moving average of $887.74. The company has a quick ratio of 1.47, a current ratio of 1.87 and a debt-to-equity ratio of 0.38. Coca-Cola Consolidated, Inc. has a 12-month low of $614.22 and a 12-month high of $1,048.00. The stock has a market capitalization of $9.33 billion, a price-to-earnings ratio of 20.50 and a beta of 0.74.

Coca-Cola Consolidated (NASDAQ:COKE) last released its quarterly earnings results on Monday, May 6th. The company reported $17.31 earnings per share (EPS) for the quarter. The business had revenue of $1.59 billion during the quarter. Coca-Cola Consolidated had a return on equity of 42.10% and a net margin of 6.83%.

Coca-Cola Consolidated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Friday, April 26th were issued a dividend of $0.50 per share. The ex-dividend date was Thursday, April 25th. This represents a $2.00 annualized dividend and a yield of 0.20%. Coca-Cola Consolidated’s dividend payout ratio is currently 4.12%.

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.