Arizona State Retirement System Lowers Stock Position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Arizona State Retirement System lowered its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 1.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,404 shares of the company’s stock after selling 25 shares during the period. Arizona State Retirement System’s holdings in Coca-Cola Consolidated were worth $1,303,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. First Command Advisory Services Inc. bought a new position in Coca-Cola Consolidated during the third quarter valued at about $38,000. Fifth Third Bancorp grew 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 buying an additional 44 shares during the period. Macquarie Group Ltd. grew its position in Coca-Cola Consolidated by 34.3% during the fourth quarter. Macquarie Group Ltd. now owns 90 shares of the company’s stock valued at $46,000 after buying an additional 23 shares during the period. Sunbelt Securities Inc. grew 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 buying an additional 37 shares during the period. Finally, Covestor Ltd grew its position in Coca-Cola Consolidated by 5,600.0% during the first quarter. Covestor Ltd now owns 114 shares of the company’s stock valued at $57,000 after buying an additional 112 shares during the period. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Price Performance

Shares of NASDAQ:COKE opened at $816.87 on Monday. The company has a quick ratio of 1.27, a current ratio of 1.56 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $7.66 billion, a PE ratio of 18.79 and a beta of 0.74. Coca-Cola Consolidated, Inc. has a twelve month low of $529.68 and a twelve month high of $961.91. The company has a 50-day moving average price of $841.13 and a two-hundred day moving average price of $794.92.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its earnings results on Wednesday, February 21st. The company reported $13.39 earnings per share for the quarter. The firm 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%.

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.

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.