Paralel Advisors LLC Sells 7,769 Shares of Coca-Cola Consolidated, Inc. $COKE

Paralel Advisors LLC decreased its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 39.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 12,047 shares of the company’s stock after selling 7,769 shares during the period. Paralel Advisors LLC’s holdings in Coca-Cola Consolidated were worth $2,300,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Quarry LP acquired a new position in Coca-Cola Consolidated during the third quarter valued at approximately $25,000. Advisory Services Network LLC bought a new stake in shares of Coca-Cola Consolidated during the 3rd quarter worth $25,000. J.Safra Asset Management Corp acquired a new position in Coca-Cola Consolidated in the 2nd quarter valued at $26,000. Newbridge Financial Services Group Inc. raised its holdings in Coca-Cola Consolidated by 900.0% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company’s stock worth $26,000 after acquiring an additional 207 shares during the period. Finally, Geneos Wealth Management Inc. raised its holdings in Coca-Cola Consolidated by 900.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 250 shares of the company’s stock worth $28,000 after acquiring an additional 225 shares during the period. 48.24% of the stock is owned by institutional investors.

Coca-Cola Consolidated Stock Performance

Shares of COKE stock opened at $189.33 on Monday. Coca-Cola Consolidated, Inc. has a 1 year low of $110.60 and a 1 year high of $219.65. The firm’s fifty day simple moving average is $187.44 and its 200 day simple moving average is $188.60. The firm has a market capitalization of $12.60 billion, a P/E ratio of 25.11 and a beta of 0.56.

Coca-Cola Consolidated (NASDAQ:COKE) last released its earnings results on Wednesday, August 5th. The company reported $2.83 EPS for the quarter. Coca-Cola Consolidated had a net margin of 7.15% and a negative return on equity of 1,041.59%. The firm had revenue of $2.05 billion during the quarter.

Coca-Cola Consolidated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, July 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio is currently 13.26%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wall Street Zen lowered shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy”.

About Coca-Cola Consolidated

Founded in 1902 and headquartered in Charlotte, North Carolina, Coca-Cola Consolidated, Inc is the largest independent bottler of Coca-Cola products in the United States. The company manufactures, sells and distributes a broad portfolio of sparkling and still beverages under exclusive agreements with The Coca-Cola Company. Its brand lineup includes Coca-Cola, Diet Coke, Sprite and Fanta, as well as noncarbonated offerings such as Minute Maid juices, Gold Peak teas, Dasani water, Powerade sports drinks and vitaminwater.

Coca-Cola Consolidated’s operations span 14 states and the District of Columbia across the Southeastern, South Central and Mid-Atlantic regions.