Intech Investment Management LLC Reduces Stock Position in Coca-Cola Consolidated, Inc. $COKE

Intech Investment Management LLC lessened its stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 38.2% in the third quarter, Holdings Channel reports. The institutional investor owned 18,776 shares of the company’s stock after selling 11,628 shares during the quarter. Intech Investment Management LLC’s holdings in Coca-Cola Consolidated were worth $2,200,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC increased its position in shares of Coca-Cola Consolidated by 175.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 220 shares of the company’s stock worth $26,000 after purchasing an additional 140 shares during the last quarter. Root Financial Partners LLC bought a new stake in Coca-Cola Consolidated in the third quarter valued at about $26,000. Nomura Asset Management Co. Ltd. increased its holdings in Coca-Cola Consolidated by 900.0% in the second quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the company’s stock valued at $26,000 after buying an additional 207 shares during the last quarter. Newbridge Financial Services Group Inc. raised its stake in Coca-Cola Consolidated by 900.0% during the second quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company’s stock valued at $26,000 after buying an additional 207 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in Coca-Cola Consolidated by 900.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 250 shares of the company’s stock worth $28,000 after buying an additional 225 shares during the last quarter. 48.24% of the stock is currently owned by institutional investors.

Coca-Cola Consolidated Trading Down 0.8%

Shares of NASDAQ COKE opened at $204.75 on Wednesday. The company has a market cap of $13.63 billion, a price-to-earnings ratio of 30.04 and a beta of 0.60. Coca-Cola Consolidated, Inc. has a 12-month low of $105.21 and a 12-month high of $209.24. The company has a current ratio of 1.26, a quick ratio of 0.97 and a debt-to-equity ratio of 0.88. The stock’s 50 day simple moving average is $161.64 and its 200 day simple moving average is $145.19.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $2.11 earnings per share for the quarter. The firm had revenue of $1.90 billion for the quarter. Coca-Cola Consolidated had a net margin of 7.89% and a return on equity of 66.42%.

Coca-Cola Consolidated Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 6th. Shareholders of record on Friday, January 23rd were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Friday, January 23rd. Coca-Cola Consolidated’s dividend payout ratio (DPR) is presently 14.66%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy”.

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.