Paralel Advisors LLC Lowers Stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Paralel Advisors LLC reduced its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 24.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 2,697 shares of the company’s stock after selling 878 shares during the period. Coca-Cola Consolidated accounts for 0.1% of Paralel Advisors LLC’s portfolio, making the stock its 26th largest position. Paralel Advisors LLC’s holdings in Coca-Cola Consolidated were worth $2,926,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of COKE. Janney Montgomery Scott LLC grew its stake 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 buying an additional 1,153 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its position in shares of Coca-Cola Consolidated by 295.1% in the fourth 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 during the period. BNP Paribas Financial Markets increased its stake 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 valued at $5,388,000 after buying an additional 1,380 shares during the period. Hancock Whitney Corp increased its holdings in Coca-Cola Consolidated by 12.3% in the fourth 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 during the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Coca-Cola Consolidated in the fourth quarter worth about $1,075,000. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Trading Down 1.4 %

Coca-Cola Consolidated stock traded down $18.48 during mid-day trading on Friday, hitting $1,329.90. The stock had a trading volume of 52,169 shares, compared to its average volume of 53,402. The stock has a 50-day simple moving average of $1,204.55 and a two-hundred day simple moving average of $1,007.12. Coca-Cola Consolidated, Inc. has a 12 month low of $614.22 and a 12 month high of $1,374.25. The stock has a market capitalization of $12.47 billion, a PE ratio of 27.39 and a beta of 0.82. The company has a current ratio of 1.97, a quick ratio of 1.75 and a debt-to-equity ratio of 1.50.

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

Coca-Cola Consolidated Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.15%. The ex-dividend date of this dividend was Friday, July 26th. Coca-Cola Consolidated’s payout ratio is presently 20.59%.

Insider Transactions at Coca-Cola Consolidated

In other Coca-Cola Consolidated news, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analyst Weigh In

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

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.