First Trust Advisors LP Sells 19,715 Shares of Coca-Cola Consolidated, Inc. $COKE

First Trust Advisors LP lessened its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 1.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,017,368 shares of the company’s stock after selling 19,715 shares during the quarter. First Trust Advisors LP owned about 3.03% of Coca-Cola Consolidated worth $386,810,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its holdings in shares of Coca-Cola Consolidated by 13.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,930 shares of the company’s stock valued at $562,000 after buying an additional 347 shares during the period. Hollencrest Capital Management lifted its holdings in Coca-Cola Consolidated by 35.6% in the first quarter. Hollencrest Capital Management now owns 2,410 shares of the company’s stock valued at $462,000 after acquiring an additional 633 shares during the period. Parallel Advisors LLC boosted its position in Coca-Cola Consolidated by 52.2% in the first quarter. Parallel Advisors LLC now owns 1,073 shares of the company’s stock worth $206,000 after purchasing an additional 368 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of Coca-Cola Consolidated by 7.2% during the 1st quarter. California Public Employees Retirement System now owns 113,281 shares of the company’s stock valued at $21,720,000 after purchasing an additional 7,631 shares during the period. Finally, Bessemer Group Inc. grew its position in Coca-Cola Consolidated by 19.1% during the first quarter. Bessemer Group Inc. now owns 331 shares of the company’s stock valued at $63,000 after buying an additional 53 shares during the period. Institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Performance

NASDAQ:COKE opened at $183.09 on Wednesday. The firm has a market capitalization of $12.19 billion, a PE ratio of 25.05 and a beta of 0.54. The stock’s fifty day moving average is $180.06 and its 200 day moving average is $180.11. Coca-Cola Consolidated, Inc. has a fifty-two week low of $110.40 and a fifty-two week high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $1.79 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 during the quarter.

Coca-Cola Consolidated Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 24th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, July 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. Coca-Cola Consolidated’s payout ratio is currently 13.68%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated 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, Based on data from MarketBeat.com, Coca-Cola Consolidated has an average rating of “Buy”.

Coca-Cola Consolidated 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.