Sunbelt Securities Inc. Lowers Stock Position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Sunbelt Securities Inc. trimmed its position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 14.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80 shares of the company’s stock after selling 14 shares during the period. Sunbelt Securities Inc.’s holdings in Coca-Cola Consolidated were worth $68,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in COKE. Xponance Inc. raised its stake in shares of Coca-Cola Consolidated by 1.8% in the fourth quarter. Xponance Inc. now owns 690 shares of the company’s stock valued at $641,000 after acquiring an additional 12 shares during the period. CWM LLC raised its position in Coca-Cola Consolidated by 22.2% in the 4th quarter. CWM LLC now owns 66 shares of the company’s stock worth $61,000 after purchasing an additional 12 shares during the period. Comerica Bank lifted its stake in Coca-Cola Consolidated by 0.9% in the fourth quarter. Comerica Bank now owns 1,554 shares of the company’s stock worth $1,442,000 after purchasing an additional 14 shares during the last quarter. Meritage Portfolio Management boosted its position in shares of Coca-Cola Consolidated by 2.1% during the fourth quarter. Meritage Portfolio Management now owns 743 shares of the company’s stock valued at $690,000 after buying an additional 15 shares during the period. Finally, Exchange Traded Concepts LLC raised its holdings in shares of Coca-Cola Consolidated by 1.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 937 shares of the company’s stock worth $870,000 after buying an additional 16 shares during the period. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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 Trading Up 1.3 %

COKE stock opened at $1,085.00 on Monday. Coca-Cola Consolidated, Inc. has a 12 month low of $614.22 and a 12 month high of $1,090.34. The firm’s 50-day moving average is $960.53 and its 200 day moving average is $895.96. The company has a market capitalization of $10.17 billion, a PE ratio of 22.34 and a beta of 0.74. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.87 and a quick ratio of 1.47.

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

Coca-Cola Consolidated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Friday, April 26th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.18%. The ex-dividend date of this dividend was Thursday, April 25th. Coca-Cola Consolidated’s dividend payout ratio is 4.12%.

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.