Allianz Asset Management GmbH Sells 48,700 Shares of Coca-Cola Consolidated, Inc. $COKE

Allianz Asset Management GmbH cut its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 46.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 55,753 shares of the company’s stock after selling 48,700 shares during the period. Allianz Asset Management GmbH’s holdings in Coca-Cola Consolidated were worth $6,532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of COKE. Jones Financial Companies Lllp boosted its position in shares of Coca-Cola Consolidated by 10.8% in the third quarter. Jones Financial Companies Lllp now owns 3,599 shares of the company’s stock valued at $415,000 after acquiring an additional 350 shares during the period. UMB Bank n.a. raised its stake in Coca-Cola Consolidated by 32.3% in the 3rd quarter. UMB Bank n.a. now owns 873 shares of the company’s stock worth $102,000 after purchasing an additional 213 shares in the last quarter. Keybank National Association OH boosted its holdings in Coca-Cola Consolidated by 4.9% in the 3rd quarter. Keybank National Association OH now owns 3,977 shares of the company’s stock valued at $466,000 after purchasing an additional 186 shares during the period. Arizona State Retirement System grew its position in shares of Coca-Cola Consolidated by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 15,942 shares of the company’s stock worth $1,868,000 after purchasing an additional 214 shares in the last quarter. Finally, Cloud Capital Management LLC bought a new position in shares of Coca-Cola Consolidated during the third quarter worth approximately $352,000. Institutional investors and hedge funds own 48.24% of the company’s stock.

Coca-Cola Consolidated Price Performance

COKE stock opened at $154.09 on Tuesday. The company’s 50-day moving average price is $156.41 and its two-hundred day moving average price is $137.69. The firm has a market cap of $13.17 billion, a P/E ratio of 21.94 and a beta of 0.64. The company has a quick ratio of 1.79, a current ratio of 2.04 and a debt-to-equity ratio of 0.88. Coca-Cola Consolidated, Inc. has a 12 month low of $105.21 and a 12 month high of $169.49.

Coca-Cola Consolidated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 6th. Shareholders of record on Friday, January 23rd were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.6%. The ex-dividend date was Friday, January 23rd. Coca-Cola Consolidated’s payout ratio is currently 14.25%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, Based on data from 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.