New York State Teachers Retirement System Lowers Stock Position in Coca-Cola Consolidated, Inc. $COKE

New York State Teachers Retirement System lessened its holdings in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 8.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,027 shares of the company’s stock after selling 6,064 shares during the period. New York State Teachers Retirement System owned 0.10% of Coca-Cola Consolidated worth $12,660,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP bought a new position in shares of Coca-Cola Consolidated in the 3rd quarter worth about $25,000. Advisory Services Network LLC bought a new stake in Coca-Cola Consolidated during the third quarter worth about $25,000. Newbridge Financial Services Group Inc. grew its holdings in Coca-Cola Consolidated by 900.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company’s stock worth $26,000 after purchasing an additional 207 shares during the period. Geneos Wealth Management Inc. grew its holdings in Coca-Cola Consolidated by 900.0% in the second quarter. Geneos Wealth Management Inc. now owns 250 shares of the company’s stock worth $28,000 after purchasing an additional 225 shares during the period. Finally, Torren Management LLC bought a new position in shares of Coca-Cola Consolidated during the fourth quarter valued at approximately $29,000. 48.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Coca-Cola Consolidated Price Performance

Shares of NASDAQ:COKE opened at $195.63 on Monday. The business has a fifty day moving average price of $183.14 and a 200-day moving average price of $178.58. The company has a market capitalization of $13.02 billion, a PE ratio of 26.76 and a beta of 0.54. Coca-Cola Consolidated, Inc. has a 1-year low of $109.42 and a 1-year high of $219.65.

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

Coca-Cola Consolidated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Friday, April 24th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Friday, April 24th. Coca-Cola Consolidated’s dividend payout ratio is currently 13.68%.

About Coca-Cola Consolidated

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.