Amalgamated Bank Reduces Holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Amalgamated Bank decreased its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 3.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,771 shares of the company’s stock after selling 106 shares during the period. Amalgamated Bank’s holdings in Coca-Cola Consolidated were worth $3,741,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in COKE. Norges Bank purchased a new position in shares of Coca-Cola Consolidated during the 4th quarter worth approximately $284,418,000. GAMMA Investing LLC boosted its position in shares of Coca-Cola Consolidated by 175,140.4% during the 1st quarter. GAMMA Investing LLC now owns 182,250 shares of the company’s stock worth $246,038,000 after purchasing an additional 182,146 shares during the period. Estuary Capital Management LP purchased a new position in shares of Coca-Cola Consolidated during the 4th quarter worth approximately $42,845,000. Invesco Ltd. boosted its position in shares of Coca-Cola Consolidated by 33.3% during the 4th quarter. Invesco Ltd. now owns 125,003 shares of the company’s stock worth $157,503,000 after purchasing an additional 31,195 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Coca-Cola Consolidated during the 4th quarter worth approximately $27,078,000. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Coca-Cola Consolidated from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 10th.

Coca-Cola Consolidated Price Performance

Coca-Cola Consolidated stock opened at $117.35 on Friday. The firm has a market cap of $10.23 billion, a PE ratio of 18.32 and a beta of 0.79. Coca-Cola Consolidated, Inc. has a 52-week low of $105.21 and a 52-week high of $146.09. The company has a quick ratio of 1.76, a current ratio of 2.03 and a debt-to-equity ratio of 0.96. The company’s 50 day moving average is $135.03 and its two-hundred day moving average is $134.05.

Coca-Cola Consolidated (NASDAQ:COKE) last released its earnings results on Wednesday, April 30th. The company reported $1.56 earnings per share (EPS) for the quarter. Coca-Cola Consolidated had a net margin of 8.29% and a return on equity of 48.35%. The company had revenue of $1.58 billion for the quarter.

Coca-Cola Consolidated Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 9th. Stockholders of record on Friday, April 25th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, April 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.85%. Coca-Cola Consolidated’s payout ratio is 15.60%.

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.