Allspring Global Investments Holdings LLC Cuts Stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Allspring Global Investments Holdings LLC lessened its holdings in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 26.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,526 shares of the company’s stock after selling 5,323 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Coca-Cola Consolidated were worth $13,486,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in COKE. International Assets Investment Management LLC acquired a new stake in Coca-Cola Consolidated in the fourth quarter worth about $174,971,000. Norges Bank purchased a new position in shares of Coca-Cola Consolidated in the 4th quarter valued at approximately $31,757,000. First Trust Advisors LP boosted its stake in Coca-Cola Consolidated by 917.9% in the 1st quarter. First Trust Advisors LP now owns 52,801 shares of the company’s stock worth $28,253,000 after purchasing an additional 47,614 shares in the last quarter. AQR Capital Management LLC grew its position in Coca-Cola Consolidated by 230.5% during the 4th quarter. AQR Capital Management LLC now owns 67,411 shares of the company’s stock worth $34,539,000 after purchasing an additional 47,017 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in Coca-Cola Consolidated during the 4th quarter valued at approximately $40,449,000. Institutional investors and hedge funds own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Performance

Shares of COKE opened at $812.63 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.27 and a current ratio of 1.56. The stock has a 50-day moving average of $839.41 and a two-hundred day moving average of $796.11. The stock has a market cap of $7.61 billion, a P/E ratio of 18.69 and a beta of 0.74. Coca-Cola Consolidated, Inc. has a one year low of $529.68 and a one year high of $961.91.

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

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Coca-Cola Consolidated from a “buy” rating to a “strong-buy” rating in a research note 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.