Coca-Cola Consolidated, Inc. $COKE Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 31.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 411,441 shares of the company’s stock after selling 190,565 shares during the quarter. Bank of New York Mellon Corp’s holdings in Coca-Cola Consolidated were worth $63,074,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Quarry LP purchased a new position in shares of Coca-Cola Consolidated in the 3rd quarter valued at about $25,000. Advisory Services Network LLC acquired a new stake in Coca-Cola Consolidated during the 3rd quarter worth approximately $25,000. Smartleaf Asset Management LLC lifted its position in Coca-Cola Consolidated by 175.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 220 shares of the company’s stock worth $26,000 after acquiring an additional 140 shares during the period. Newbridge Financial Services Group Inc. lifted its holdings in shares of Coca-Cola Consolidated by 900.0% in the 2nd 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 during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Coca-Cola Consolidated by 900.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 250 shares of the company’s stock valued at $28,000 after buying an additional 225 shares during the period. Institutional investors and hedge funds own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Performance

Coca-Cola Consolidated stock opened at $185.09 on Wednesday. The company has a market capitalization of $12.32 billion, a price-to-earnings ratio of 25.32 and a beta of 0.55. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.91 and a current ratio of 1.23. Coca-Cola Consolidated, Inc. has a fifty-two week low of $105.44 and a fifty-two week high of $219.65. The stock has a fifty day moving average of $185.77 and a two-hundred day moving average of $175.67.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its quarterly earnings data 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 announced a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Friday, April 24th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, April 24th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio is presently 13.68%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Friday, March 27th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock 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.