Bank of Nova Scotia Sells 46,911 Shares of Coca-Cola Consolidated, Inc. $COKE

Bank of Nova Scotia lowered its holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 49.9% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 47,100 shares of the company’s stock after selling 46,911 shares during the period. Bank of Nova Scotia’s holdings in Coca-Cola Consolidated were worth $9,031,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Ascentis Independent Advisors acquired a new position in shares of Coca-Cola Consolidated during the first quarter worth approximately $31,000. Torren Management LLC acquired a new stake in Coca-Cola Consolidated during the fourth quarter worth about $29,000. Morse Asset Management Inc acquired a new stake in Coca-Cola Consolidated during the fourth quarter worth about $31,000. Quarry LP bought a new position in Coca-Cola Consolidated during the third quarter valued at about $25,000. Finally, Advisory Services Network LLC acquired a new position in Coca-Cola Consolidated in the 3rd quarter valued at approximately $25,000. 48.24% of the stock is owned by institutional investors.

Coca-Cola Consolidated Price Performance

Shares of COKE stock opened at $184.70 on Monday. Coca-Cola Consolidated, Inc. has a 12-month low of $110.40 and a 12-month high of $219.65. The firm has a 50 day moving average price of $181.03 and a two-hundred day moving average price of $180.78. The company has a market capitalization of $12.29 billion, a PE ratio of 25.27 and a beta of 0.54.

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

Coca-Cola Consolidated Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Friday, July 24th. Coca-Cola Consolidated’s 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 research note on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average 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.