Johnson Investment Counsel Inc. Decreases Stock Holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Johnson Investment Counsel Inc. cut its stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 20.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,176 shares of the company’s stock after selling 570 shares during the period. Johnson Investment Counsel Inc.’s holdings in Coca-Cola Consolidated were worth $2,361,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank purchased a new position in Coca-Cola Consolidated in the 4th quarter valued at approximately $188,138,000. Vaughan Nelson Investment Management L.P. increased its position in shares of Coca-Cola Consolidated by 88.0% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 112,156 shares of the company’s stock valued at $121,689,000 after buying an additional 52,491 shares in the last quarter. Hennessy Advisors Inc. acquired a new position in shares of Coca-Cola Consolidated during the 4th quarter worth $30,318,000. Vanguard Group Inc. boosted its position in shares of Coca-Cola Consolidated by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 608,875 shares of the company’s stock worth $515,358,000 after buying an additional 30,443 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its stake in Coca-Cola Consolidated by 1,271.0% in the 2nd quarter. Los Angeles Capital Management LLC now owns 32,067 shares of the company’s stock valued at $34,793,000 after acquiring an additional 29,728 shares during the last quarter. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Coca-Cola Consolidated news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola Consolidated stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $925.00, for a total value of $553,722,575.00. Following the completion of the sale, the insider now owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Analyst Ratings Changes

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

Coca-Cola Consolidated Price Performance

COKE stock opened at $1,271.09 on Friday. The stock’s 50 day moving average price is $1,216.72 and its 200 day moving average price is $1,017.14. The firm has a market cap of $11.92 billion, a P/E ratio of 26.18 and a beta of 0.82. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.75 and a current ratio of 1.97. Coca-Cola Consolidated, Inc. has a 1 year low of $614.22 and a 1 year high of $1,376.84.

Coca-Cola Consolidated (NASDAQ:COKE) last released its quarterly earnings results on Wednesday, July 31st. The company reported $20.71 earnings per share (EPS) for the quarter. The company had revenue of $1.80 billion for the quarter. Coca-Cola Consolidated had a net margin of 7.52% and a return on equity of 44.83%.

Coca-Cola Consolidated Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were paid a $0.50 dividend. The ex-dividend date was Friday, July 26th. This represents a $2.00 annualized dividend and a yield of 0.16%. Coca-Cola Consolidated’s payout ratio is currently 20.59%.

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.