Y Intercept Hong Kong Ltd Has $2.85 Million Holdings in Coca-Cola Consolidated, Inc. $COKE

Y Intercept Hong Kong Ltd cut its position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 54.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,857 shares of the company’s stock after selling 18,009 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Coca-Cola Consolidated were worth $2,849,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in COKE. Torren Management LLC acquired a new stake in shares of Coca-Cola Consolidated during the fourth quarter valued at approximately $29,000. Morse Asset Management Inc acquired a new position in Coca-Cola Consolidated in the 4th quarter worth approximately $31,000. Quarry LP acquired a new position in Coca-Cola Consolidated in the 3rd quarter worth approximately $25,000. Advisory Services Network LLC purchased a new position in Coca-Cola Consolidated during the 3rd quarter worth approximately $25,000. Finally, Newbridge Financial Services Group Inc. grew its position in Coca-Cola Consolidated by 900.0% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company’s stock worth $26,000 after purchasing an additional 207 shares in the last quarter. 48.24% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Price Performance

NASDAQ COKE opened at $177.64 on Wednesday. The company has a 50 day simple moving average of $182.69 and a 200-day simple moving average of $178.85. The firm has a market capitalization of $11.82 billion, a price-to-earnings ratio of 24.30 and a beta of 0.54. Coca-Cola Consolidated, Inc. has a 52-week low of $109.42 and a 52-week high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE) last released its quarterly earnings data on Wednesday, May 6th. The company reported $1.79 earnings per share for the quarter. Coca-Cola Consolidated had a net margin of 7.72% and a return on equity of 138.44%. The firm had revenue of $1.71 billion for the quarter.

Coca-Cola Consolidated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Friday, April 24th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, April 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.6%. Coca-Cola Consolidated’s dividend payout ratio is 13.68%.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock 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.