New York State Common Retirement Fund Trims Stock Holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

New York State Common Retirement Fund lessened its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 5.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,497 shares of the company’s stock after selling 136 shares during the quarter. New York State Common Retirement Fund’s holdings in Coca-Cola Consolidated were worth $2,318,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in shares of Coca-Cola Consolidated during the fourth quarter worth about $174,971,000. Vaughan Nelson Investment Management L.P. purchased a new stake in Coca-Cola Consolidated in the 4th quarter worth approximately $40,449,000. Hennessy Advisors Inc. acquired a new position in Coca-Cola Consolidated in the 4th quarter valued at $30,318,000. Vanguard Group Inc. lifted its stake in shares of Coca-Cola Consolidated by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 580,785 shares of the company’s stock worth $369,565,000 after purchasing an additional 19,877 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Coca-Cola Consolidated by 29.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 70,685 shares of the company’s stock worth $44,978,000 after purchasing an additional 15,957 shares during the period. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded Coca-Cola Consolidated from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 23rd.

Coca-Cola Consolidated Trading Up 17.7 %

Shares of COKE stock opened at $1,009.31 on Wednesday. The firm’s 50-day simple moving average is $836.19 and its 200-day simple moving average is $819.15. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.56 and a quick ratio of 1.27. Coca-Cola Consolidated, Inc. has a 1-year low of $614.22 and a 1-year high of $1,030.00. The firm has a market cap of $9.46 billion, a P/E ratio of 23.22 and a beta of 0.73.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $13.39 EPS for the quarter. Coca-Cola Consolidated had a net margin of 6.14% and a return on equity of 44.12%. The firm had revenue of $1.63 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date of this dividend is Thursday, April 25th. Coca-Cola Consolidated’s dividend payout ratio (DPR) is presently 4.60%.

Coca-Cola Consolidated Company Profile

Coca-Cola Consolidated, Inc, together with its subsidiaries, manufactures, markets, and distributes nonalcoholic beverages primarily products of The Coca-Cola Company in the United States. The company offers sparkling beverages; and still beverages, including energy products, as well as noncarbonated beverages comprising bottled water, ready to drink coffee and tea, enhanced water, juices, and sports drinks.