Watershed Asset Management L.L.C. Sells 104 Shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Watershed Asset Management L.L.C. lessened its position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 26.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 296 shares of the company’s stock after selling 104 shares during the period. Watershed Asset Management L.L.C.’s holdings in Coca-Cola Consolidated were worth $275,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in COKE. First Command Advisory Services Inc. acquired a new position in Coca-Cola Consolidated during the third quarter valued at approximately $38,000. Fifth Third Bancorp raised 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 valued at $45,000 after purchasing an additional 44 shares in the last quarter. Sunbelt Securities Inc. raised 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 valued at $47,000 after purchasing an additional 37 shares in the last quarter. CWM LLC raised its position in Coca-Cola Consolidated by 22.2% during the fourth quarter. CWM LLC now owns 66 shares of the company’s stock valued at $61,000 after purchasing an additional 12 shares in the last quarter. Finally, Covestor Ltd raised its position in Coca-Cola Consolidated by 40.4% during the third quarter. Covestor Ltd now owns 132 shares of the company’s stock valued at $85,000 after purchasing an additional 38 shares in the last quarter. Institutional investors own 48.24% of the company’s stock.

Analyst Ratings Changes

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

Coca-Cola Consolidated Price Performance

Shares of NASDAQ:COKE traded up $0.36 during trading on Tuesday, hitting $831.01. 23,591 shares of the company were exchanged, compared to its average volume of 45,378. The business’s 50 day moving average is $833.69 and its 200-day moving average is $802.38. The company has a market capitalization of $7.79 billion, a P/E ratio of 19.07 and a beta of 0.74. The company has a quick ratio of 1.27, a current ratio of 1.56 and a debt-to-equity ratio of 0.42. Coca-Cola Consolidated, Inc. has a 1-year low of $552.36 and a 1-year high of $961.91.

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

Coca-Cola Consolidated Announces Dividend

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

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.