Wealth Enhancement Advisory Services LLC Decreases Stock Holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Wealth Enhancement Advisory Services LLC lowered its stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 19.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 929 shares of the company’s stock after selling 221 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Coca-Cola Consolidated were worth $1,008,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in COKE. Norges Bank purchased a new stake in Coca-Cola Consolidated during the 4th quarter valued at $188,138,000. International Assets Investment Management LLC purchased a new stake in Coca-Cola Consolidated during the fourth quarter valued at $174,971,000. Hennessy Advisors Inc. bought a new position in Coca-Cola Consolidated in the fourth quarter valued at about $30,318,000. Vanguard Group Inc. lifted its holdings in Coca-Cola Consolidated by 5.3% in the first quarter. Vanguard Group Inc. now owns 608,875 shares of the company’s stock valued at $515,358,000 after acquiring an additional 30,443 shares during the period. Finally, HighPoint Advisor Group LLC purchased a new position in Coca-Cola Consolidated in the fourth quarter worth about $16,838,000. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other 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 transaction of $553,722,575.00. Following the transaction, the insider now directly owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Coca-Cola Consolidated Trading Down 0.5 %

Shares of COKE stock opened at $1,267.97 on Wednesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.97 and a quick ratio of 1.47. The company has a market cap of $11.89 billion, a price-to-earnings ratio of 26.11 and a beta of 0.78. Coca-Cola Consolidated, Inc. has a 1 year low of $614.22 and a 1 year high of $1,305.78. The firm has a fifty day moving average price of $1,123.93 and a 200-day moving average price of $964.55.

Coca-Cola Consolidated Dividend Announcement

The business also recently declared 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 0.16%. The ex-dividend date of this dividend was Friday, July 26th. Coca-Cola Consolidated’s dividend payout ratio is presently 4.12%.

About Coca-Cola Consolidated

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.