Coca-Cola Consolidated, Inc. $COKE Shares Sold by Reinhart Partners LLC.

Reinhart Partners LLC. decreased its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 7.0% during the 2nd quarter, Holdings Channel reports. The fund owned 39,202 shares of the company’s stock after selling 2,933 shares during the quarter. Reinhart Partners LLC.’s holdings in Coca-Cola Consolidated were worth $7,485,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP acquired a new stake in Coca-Cola Consolidated in the third quarter valued at about $25,000. Advisory Services Network LLC purchased a new position in shares of Coca-Cola Consolidated during the 3rd quarter worth approximately $25,000. Newbridge Financial Services Group Inc. raised its stake in shares of Coca-Cola Consolidated by 900.0% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company’s stock worth $26,000 after buying an additional 207 shares in the last quarter. 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. Finally, Torren Management LLC acquired a new stake in shares of Coca-Cola Consolidated in the 4th quarter valued at approximately $29,000. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Consolidated Trading Up 2.5%

Shares of Coca-Cola Consolidated stock opened at $192.99 on Friday. The company has a 50-day moving average of $183.60 and a two-hundred day moving average of $183.22. Coca-Cola Consolidated, Inc. has a 12-month low of $110.60 and a 12-month high of $219.65. The stock has a market cap of $12.85 billion, a PE ratio of 25.60 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $2.83 EPS for the quarter. The business had revenue of $2.05 billion for the quarter. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%.

Coca-Cola Consolidated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, July 24th. This represents a $1.00 annualized dividend and a yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio is 13.26%.

Wall Street Analyst Weigh In

COKE has been the topic of a number of recent analyst reports. Wall Street Zen lowered Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company 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.