Watershed Asset Management L.L.C. Trims Stock Holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Watershed Asset Management L.L.C. reduced its stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 26.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 296 shares of the company’s stock after selling 104 shares during the quarter. Watershed Asset Management L.L.C.’s holdings in Coca-Cola Consolidated were worth $275,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. First Command Advisory Services Inc. purchased a new stake in shares of Coca-Cola Consolidated in the third quarter valued at $38,000. CWM LLC lifted its position in Coca-Cola Consolidated by 22.2% during the fourth quarter. CWM LLC now owns 66 shares of the company’s stock worth $61,000 after buying an additional 12 shares during the period. Fifth Third Bancorp lifted its position in Coca-Cola Consolidated by 163.0% during the third quarter. Fifth Third Bancorp now owns 71 shares of the company’s stock worth $45,000 after buying an additional 44 shares during the period. Sunbelt Securities Inc. lifted its position in Coca-Cola Consolidated by 100.0% during the third quarter. Sunbelt Securities Inc. now owns 74 shares of the company’s stock worth $47,000 after buying an additional 37 shares during the period. Finally, Covestor Ltd lifted its position in Coca-Cola Consolidated by 40.4% during the third quarter. Covestor Ltd now owns 132 shares of the company’s stock worth $85,000 after buying an additional 38 shares during the period. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Stock Up 0.0 %

Shares of COKE stock traded up $0.36 during trading hours on Tuesday, reaching $831.01. The company had a trading volume of 23,591 shares, compared to its average volume of 45,378. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.27 and a current ratio of 1.56. Coca-Cola Consolidated, Inc. has a twelve month low of $552.36 and a twelve month high of $961.91. The company has a market capitalization of $7.79 billion, a P/E ratio of 19.07 and a beta of 0.74. The stock’s fifty day simple moving average is $833.69 and its 200 day simple moving average is $802.38.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its earnings results on Wednesday, February 21st. The company reported $13.39 earnings per share (EPS) for the quarter. Coca-Cola Consolidated had a return on equity of 44.12% and a net margin of 6.14%. The business had revenue of $1.63 billion during the quarter.

Coca-Cola Consolidated Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $2.00 dividend on an annualized basis and a yield of 0.24%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is presently 4.60%.

Analyst Ratings Changes

Separately, StockNews.com upgraded Coca-Cola Consolidated from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 23rd.

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.