Plato Investment Management Ltd Decreases Stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Plato Investment Management Ltd reduced its stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 27.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 166 shares of the company’s stock after selling 62 shares during the period. Plato Investment Management Ltd’s holdings in Coca-Cola Consolidated were worth $141,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Quest Partners LLC purchased a new position in Coca-Cola Consolidated in the 4th quarter worth approximately $31,000. EntryPoint Capital LLC purchased a new position in Coca-Cola Consolidated in the 1st quarter worth approximately $30,000. CWM LLC increased its stake in Coca-Cola Consolidated by 22.2% in the 4th quarter. CWM LLC now owns 66 shares of the company’s stock worth $61,000 after purchasing an additional 12 shares during the period. OLD Point Trust & Financial Services N A purchased a new position in shares of Coca-Cola Consolidated during the fourth quarter valued at approximately $93,000. Finally, Principal Securities Inc. bought a new position in shares of Coca-Cola Consolidated during the fourth quarter valued at approximately $97,000. 48.24% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Stock Up 8.3 %

Shares of NASDAQ:COKE traded up $95.49 during midday trading on Thursday, reaching $1,241.38. The company’s stock had a trading volume of 105,210 shares, compared to its average volume of 54,665. Coca-Cola Consolidated, Inc. has a 12-month low of $614.22 and a 12-month high of $1,248.58. The firm has a 50 day moving average of $1,050.97 and a 200-day moving average of $926.45. The firm has a market capitalization of $11.63 billion, a P/E ratio of 25.31 and a beta of 0.78. The company has a quick ratio of 1.47, a current ratio of 1.87 and a debt-to-equity ratio of 0.38.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its quarterly earnings data on Monday, May 6th. The company reported $17.31 EPS for the quarter. Coca-Cola Consolidated had a net margin of 6.83% and a return on equity of 42.10%. The company had revenue of $1.59 billion for the quarter.

Coca-Cola Consolidated Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 26th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.16%. The ex-dividend date is Friday, July 26th. Coca-Cola Consolidated’s dividend payout ratio (DPR) is 4.12%.

Analysts Set New Price Targets

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

Insider Activity at Coca-Cola Consolidated

In related news, major shareholder Cola Co Coca sold 598,619 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the sale, the insider now directly owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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.