Coca-Cola Consolidated, Inc. (NASDAQ:COKE) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC lessened its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 20.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 861 shares of the company’s stock after selling 226 shares during the quarter. ProShare Advisors LLC’s holdings in Coca-Cola Consolidated were worth $934,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. UBS Group AG increased its holdings in Coca-Cola Consolidated by 56.2% in the 4th quarter. UBS Group AG now owns 8,535 shares of the company’s stock valued at $7,924,000 after purchasing an additional 3,070 shares during the last quarter. Corient Private Wealth LLC grew its stake in shares of Coca-Cola Consolidated by 98.2% in the fourth quarter. Corient Private Wealth LLC now owns 1,203 shares of the company’s stock valued at $1,117,000 after buying an additional 596 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Coca-Cola Consolidated in the 4th quarter valued at $31,000. Franklin Resources Inc. lifted its stake in Coca-Cola Consolidated by 1.2% during the 4th quarter. Franklin Resources Inc. now owns 1,471 shares of the company’s stock worth $1,366,000 after acquiring an additional 17 shares in the last quarter. Finally, Commerce Bank acquired a new position in Coca-Cola Consolidated during the 4th quarter worth about $231,000. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Consolidated Stock Performance

NASDAQ COKE opened at $1,295.96 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.97 and a quick ratio of 1.75. The company has a market cap of $12.15 billion, a P/E ratio of 26.69 and a beta of 0.82. The stock has a 50-day moving average of $1,265.10 and a two-hundred day moving average of $1,053.58. Coca-Cola Consolidated, Inc. has a 1-year low of $614.22 and a 1-year high of $1,376.84.

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

Coca-Cola Consolidated Increases Dividend

The business also recently disclosed a dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 25th will be paid a $2.50 dividend. This is a boost from Coca-Cola Consolidated’s previous dividend of $0.25. The ex-dividend date of this dividend is Friday, October 25th. Coca-Cola Consolidated’s dividend payout ratio (DPR) is presently 20.59%.

Insider Activity at Coca-Cola Consolidated

In other Coca-Cola Consolidated news, major shareholder Cola Co Coca sold 598,619 shares of the company’s 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 sale, the insider now owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

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.