American International Group Inc. Decreases Holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

American International Group Inc. trimmed its holdings in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 1.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,520 shares of the company’s stock after selling 147 shares during the period. American International Group Inc. owned 0.09% of Coca-Cola Consolidated worth $7,211,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its position in Coca-Cola Consolidated by 98.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 2,326 shares of the company’s stock worth $2,160,000 after purchasing an additional 1,153 shares during the period. Ontario Teachers Pension Plan Board lifted its holdings in Coca-Cola Consolidated by 295.1% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 5,014 shares of the company’s stock worth $4,655,000 after buying an additional 3,745 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Coca-Cola Consolidated by 27.7% in the 1st quarter. BNP Paribas Financial Markets now owns 6,366 shares of the company’s stock worth $5,388,000 after buying an additional 1,380 shares in the last quarter. Hancock Whitney Corp lifted its holdings in Coca-Cola Consolidated by 12.3% in the 4th quarter. Hancock Whitney Corp now owns 13,187 shares of the company’s stock worth $12,243,000 after buying an additional 1,444 shares in the last quarter. Finally, Hobbs Group Advisors LLC acquired a new position in Coca-Cola Consolidated in the 4th quarter worth $1,075,000. 48.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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.

Insider Activity

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

Coca-Cola Consolidated Stock Performance

Shares of COKE stock opened at $1,104.02 on Friday. Coca-Cola Consolidated, Inc. has a 12 month low of $614.22 and a 12 month high of $1,134.49. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.87 and a quick ratio of 1.47. The firm has a market capitalization of $10.34 billion, a P/E ratio of 22.74 and a beta of 0.78. The company’s fifty day moving average price is $1,034.18 and its two-hundred day moving average price is $918.96.

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

Coca-Cola Consolidated Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 26th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, July 26th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.18%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is presently 4.12%.

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.