Renaissance Technologies LLC Has $42.13 Million Stock Position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Renaissance Technologies LLC lessened its holdings in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 17.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 38,827 shares of the company’s stock after selling 7,936 shares during the quarter. Renaissance Technologies LLC owned 0.41% of Coca-Cola Consolidated worth $42,127,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Quest Partners LLC bought a new position in shares of Coca-Cola Consolidated during the 4th quarter valued at about $31,000. EntryPoint Capital LLC bought a new position in Coca-Cola Consolidated in the first quarter valued at approximately $30,000. GAMMA Investing LLC boosted its holdings in shares of 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 buying an additional 37 shares during the period. Signaturefd LLC increased its position in shares of Coca-Cola Consolidated by 15.3% during the second quarter. Signaturefd LLC now owns 68 shares of the company’s stock worth $74,000 after acquiring an additional 9 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Coca-Cola Consolidated by 102.9% during the first quarter. EverSource Wealth Advisors LLC now owns 69 shares of the company’s stock worth $57,000 after acquiring an additional 35 shares in the last quarter. 48.24% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Coca-Cola Consolidated Stock Up 0.3 %

NASDAQ:COKE opened at $1,265.62 on Thursday. The stock has a 50-day simple moving average of $1,235.86 and a 200 day simple moving average of $1,032.46. Coca-Cola Consolidated, Inc. has a 52-week low of $614.22 and a 52-week high of $1,376.84. The company has a market cap of $11.86 billion, a PE ratio of 26.06 and a beta of 0.82. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.75 and a current ratio of 1.97.

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

Coca-Cola Consolidated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, July 26th. This represents a $2.00 annualized dividend and a yield of 0.16%. Coca-Cola Consolidated’s payout ratio is currently 20.59%.

Analysts Set New Price Targets

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

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.