Victory Capital Management Inc. Lowers Stock Position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Victory Capital Management Inc. cut its holdings in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 6.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,961 shares of the company’s stock after selling 283 shares during the period. Victory Capital Management Inc.’s holdings in Coca-Cola Consolidated were worth $4,298,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. EntryPoint Capital LLC acquired a new stake in Coca-Cola Consolidated in the first quarter valued at $30,000. Quest Partners LLC acquired a new stake in Coca-Cola Consolidated in the fourth quarter valued at $31,000. EverSource Wealth Advisors LLC lifted its holdings in Coca-Cola Consolidated by 102.9% in the first quarter. EverSource Wealth Advisors LLC now owns 69 shares of the company’s stock valued at $57,000 after acquiring an additional 35 shares during the period. GAMMA Investing LLC lifted its holdings in Coca-Cola Consolidated by 137.0% in the second quarter. GAMMA Investing LLC now owns 64 shares of the company’s stock valued at $69,000 after acquiring an additional 37 shares during the period. Finally, CWM LLC lifted its holdings in Coca-Cola Consolidated by 30.3% in the first quarter. CWM LLC now owns 86 shares of the company’s stock valued at $73,000 after acquiring an additional 20 shares during the period. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Coca-Cola Consolidated Trading Down 1.3 %

Shares of COKE stock opened at $1,280.39 on Tuesday. The firm has a 50-day moving average price of $1,228.51 and a 200 day moving average price of $1,027.78. Coca-Cola Consolidated, Inc. has a twelve month low of $614.22 and a twelve month high of $1,376.84. The company has a market capitalization of $12.00 billion, a price-to-earnings ratio of 26.37 and a beta of 0.82. The company has a current ratio of 1.97, a quick ratio of 1.75 and a debt-to-equity ratio of 1.50.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $20.71 EPS for the quarter. The company had revenue of $1.80 billion during the quarter. Coca-Cola Consolidated had a return on equity of 44.83% and a net margin of 7.52%.

Coca-Cola Consolidated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date was Friday, July 26th. Coca-Cola Consolidated’s payout ratio is currently 20.59%.

Insider Transactions at Coca-Cola Consolidated

In other news, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the sale, the insider now owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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.