Coca-Cola Consolidated, Inc. (NASDAQ:COKE) Shares Sold by Towercrest Capital Management

Towercrest Capital Management cut its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 0.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 8,534 shares of the company’s stock after selling 35 shares during the period. Coca-Cola Consolidated makes up approximately 1.5% of Towercrest Capital Management’s holdings, making the stock its 24th biggest holding. Towercrest Capital Management’s holdings in Coca-Cola Consolidated were worth $9,259,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. boosted its position in Coca-Cola Consolidated by 103.4% in the 4th quarter. Victory Capital Management Inc. now owns 3,427 shares of the company’s stock valued at $3,182,000 after buying an additional 1,742 shares during the last quarter. Amalgamated Bank raised its position in shares of Coca-Cola Consolidated by 0.7% in the 4th quarter. Amalgamated Bank now owns 2,958 shares of the company’s stock valued at $2,746,000 after purchasing an additional 20 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of Coca-Cola Consolidated by 47.7% during the 4th quarter. Private Advisor Group LLC now owns 743 shares of the company’s stock valued at $690,000 after buying an additional 240 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Coca-Cola Consolidated by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 71,734 shares of the company’s stock worth $66,598,000 after buying an additional 1,049 shares during the last quarter. Finally, Principal Securities Inc. acquired a new stake in Coca-Cola Consolidated in the fourth quarter valued at $97,000. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Coca-Cola Consolidated from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 23rd.

Coca-Cola Consolidated Stock Performance

NASDAQ:COKE traded down $18.48 during trading hours on Friday, reaching $1,329.90. 52,169 shares of the stock were exchanged, compared to its average volume of 53,402. The stock has a market capitalization of $12.47 billion, a P/E ratio of 27.39 and a beta of 0.82. The firm has a 50 day simple moving average of $1,204.55 and a 200-day simple moving average of $1,007.12. The company has a quick ratio of 1.75, a current ratio of 1.97 and a debt-to-equity ratio of 1.50. Coca-Cola Consolidated, Inc. has a 52 week low of $614.22 and a 52 week high of $1,374.25.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $20.71 earnings per share (EPS) for the quarter. The firm had revenue of $1.80 billion for the quarter. Coca-Cola Consolidated had a return on equity of 44.83% and a net margin of 7.52%.

Coca-Cola Consolidated Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date was Friday, July 26th. Coca-Cola Consolidated’s dividend payout ratio is presently 20.59%.

Insider Buying and Selling

In other Coca-Cola Consolidated news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola Consolidated stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $925.00, for a total value of $553,722,575.00. Following the completion of the transaction, the insider now directly owns 1,883,546 shares in the company, valued at $1,742,280,050. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

About Coca-Cola Consolidated

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.