KG&L Capital Management LLC Lowers Stock Holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

KG&L Capital Management LLC cut its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 4.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 706 shares of the company’s stock after selling 30 shares during the period. KG&L Capital Management LLC’s holdings in Coca-Cola Consolidated were worth $929,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Signaturefd LLC raised its stake in shares of Coca-Cola Consolidated by 15.3% during the second quarter. Signaturefd LLC now owns 68 shares of the company’s stock worth $74,000 after purchasing an additional 9 shares during the last quarter. Inspire Investing LLC raised its position in Coca-Cola Consolidated by 3.1% during the 1st quarter. Inspire Investing LLC now owns 426 shares of the company’s stock worth $361,000 after buying an additional 13 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Coca-Cola Consolidated by 41.9% in the 3rd quarter. UMB Bank n.a. now owns 44 shares of the company’s stock worth $58,000 after acquiring an additional 13 shares during the period. Cetera Advisors LLC boosted its holdings in shares of Coca-Cola Consolidated by 3.4% in the first quarter. Cetera Advisors LLC now owns 420 shares of the company’s stock valued at $356,000 after acquiring an additional 14 shares in the last quarter. Finally, CWM LLC increased its stake in shares of Coca-Cola Consolidated by 17.4% during the second quarter. CWM LLC now owns 101 shares of the company’s stock worth $110,000 after acquiring an additional 15 shares during the period. 48.24% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Consolidated Price Performance

Shares of NASDAQ:COKE opened at $1,134.38 on Monday. Coca-Cola Consolidated, Inc. has a 52 week low of $628.00 and a 52 week high of $1,376.84. The company has a 50-day moving average price of $1,285.22 and a 200 day moving average price of $1,132.12. The company has a market cap of $9.94 billion, a P/E ratio of 19.74 and a beta of 0.85. The company has a quick ratio of 1.75, a current ratio of 2.47 and a debt-to-equity ratio of 1.39.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $18.81 EPS for the quarter. Coca-Cola Consolidated had a return on equity of 46.94% and a net margin of 7.81%. The business had revenue of $1.77 billion during the quarter.

Coca-Cola Consolidated Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 25th will be given a dividend of $2.50 per share. This is a positive change from Coca-Cola Consolidated’s previous quarterly dividend of $0.25. This represents a $10.00 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Friday, October 25th. Coca-Cola Consolidated’s payout ratio is presently 17.40%.

Coca-Cola Consolidated 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.