Federated Hermes Inc. Sells 7,846 Shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Federated Hermes Inc. cut its holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 45.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,544 shares of the company’s stock after selling 7,846 shares during the period. Federated Hermes Inc. owned 0.10% of Coca-Cola Consolidated worth $10,355,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Quest Partners LLC bought a new position in Coca-Cola Consolidated during the fourth quarter valued at about $31,000. EntryPoint Capital LLC bought a new position in Coca-Cola Consolidated during the first quarter valued at about $30,000. GAMMA Investing LLC increased its stake in Coca-Cola Consolidated by 137.0% during the second quarter. GAMMA Investing LLC now owns 64 shares of the company’s stock valued at $69,000 after acquiring an additional 37 shares during the period. Signaturefd LLC increased its stake in Coca-Cola Consolidated by 15.3% during the second quarter. Signaturefd LLC now owns 68 shares of the company’s stock valued at $74,000 after acquiring an additional 9 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in Coca-Cola Consolidated by 102.9% during the first quarter. EverSource Wealth Advisors LLC now owns 69 shares of the company’s stock valued at $57,000 after acquiring an additional 35 shares during the period. 48.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, major shareholder Cola Co Coca sold 598,619 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $925.00, for a total value of $553,722,575.00. Following the sale, the insider now directly owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Coca-Cola Consolidated Trading Down 1.5 %

COKE stock opened at $1,261.36 on Wednesday. Coca-Cola Consolidated, Inc. has a 1-year low of $614.22 and a 1-year high of $1,376.84. The firm has a market cap of $11.82 billion, a P/E ratio of 25.98 and a beta of 0.82. The business’s 50 day moving average is $1,232.20 and its 200-day moving average is $1,030.82. The company has a current ratio of 1.97, a quick ratio of 1.75 and a debt-to-equity ratio of 1.50.

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

Coca-Cola Consolidated Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were paid a $0.50 dividend. The ex-dividend date was Friday, July 26th. This represents a $2.00 annualized dividend and a dividend yield of 0.16%. Coca-Cola Consolidated’s dividend payout ratio is currently 20.59%.

Coca-Cola Consolidated 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.