Tributary Capital Management LLC Cuts Holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Tributary Capital Management LLC lowered its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 56.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,074 shares of the company’s stock after selling 16,807 shares during the quarter. Tributary Capital Management LLC owned 0.14% of Coca-Cola Consolidated worth $11,066,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Quest Partners LLC purchased a new stake in shares of Coca-Cola Consolidated during the fourth quarter valued at approximately $31,000. CWM LLC lifted its holdings in Coca-Cola Consolidated by 22.2% in the 4th quarter. CWM LLC now owns 66 shares of the company’s stock worth $61,000 after buying an additional 12 shares in the last quarter. Sunbelt Securities Inc. boosted its position in Coca-Cola Consolidated by 100.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 74 shares of the company’s stock valued at $47,000 after buying an additional 37 shares during the last quarter. OLD Point Trust & Financial Services N A purchased a new stake in shares of Coca-Cola Consolidated during the fourth quarter worth about $93,000. Finally, Principal Securities Inc. acquired a new position in shares of Coca-Cola Consolidated in the fourth quarter worth about $97,000. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Analyst Upgrades and Downgrades

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

Coca-Cola Consolidated Price Performance

Shares of COKE stock opened at $1,114.54 on Tuesday. The firm has a fifty day moving average of $966.12 and a two-hundred day moving average of $897.73. The firm has a market cap of $10.44 billion, a P/E ratio of 22.86 and a beta of 0.78. Coca-Cola Consolidated, Inc. has a 1-year low of $614.22 and a 1-year high of $1,134.49. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.87 and a quick ratio of 1.47.

Coca-Cola Consolidated (NASDAQ:COKE) last released its quarterly earnings results on Monday, May 6th. The company reported $17.31 earnings per share for the quarter. The business had revenue of $1.59 billion during the quarter. Coca-Cola Consolidated had a return on equity of 42.10% and a net margin of 6.83%.

Coca-Cola Consolidated Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Friday, April 26th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $2.00 dividend on an annualized basis and a yield of 0.18%. Coca-Cola Consolidated’s 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.