Allspring Global Investments Holdings LLC Cuts Stock Holdings in Coca-Cola Consolidated, Inc. $COKE

Allspring Global Investments Holdings LLC lowered its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 39.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,222 shares of the company’s stock after selling 9,991 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Coca-Cola Consolidated were worth $1,811,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in COKE. Norges Bank acquired a new stake in shares of Coca-Cola Consolidated in the 2nd quarter valued at approximately $280,669,000. Boston Partners lifted its holdings in Coca-Cola Consolidated by 942.2% in the second quarter. Boston Partners now owns 2,089,876 shares of the company’s stock valued at $233,345,000 after acquiring an additional 1,889,358 shares during the period. State Street Corp lifted its holdings in Coca-Cola Consolidated by 836.9% in the second quarter. State Street Corp now owns 1,729,065 shares of the company’s stock valued at $193,050,000 after acquiring an additional 1,544,516 shares during the period. Diversified Trust Co boosted its position in shares of Coca-Cola Consolidated by 900.0% during the 2nd quarter. Diversified Trust Co now owns 1,462,487 shares of the company’s stock worth $163,287,000 after purchasing an additional 1,316,233 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Coca-Cola Consolidated by 882.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,302,088 shares of the company’s stock worth $145,398,000 after purchasing an additional 1,169,611 shares during the period. Institutional investors and hedge funds own 48.24% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

Coca-Cola Consolidated Stock Up 2.0%

Coca-Cola Consolidated stock opened at $149.88 on Friday. Coca-Cola Consolidated, Inc. has a fifty-two week low of $105.21 and a fifty-two week high of $169.49. The firm has a market capitalization of $12.81 billion, a price-to-earnings ratio of 21.34 and a beta of 0.65. The stock’s fifty day moving average is $156.83 and its two-hundred day moving average is $131.41. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.79 and a current ratio of 2.04.

Coca-Cola Consolidated Profile

Founded in 1902 and headquartered in Charlotte, North Carolina, Coca-Cola Consolidated, Inc is the largest independent bottler of Coca-Cola products in the United States. The company manufactures, sells and distributes a broad portfolio of sparkling and still beverages under exclusive agreements with The Coca-Cola Company. Its brand lineup includes Coca-Cola, Diet Coke, Sprite and Fanta, as well as noncarbonated offerings such as Minute Maid juices, Gold Peak teas, Dasani water, Powerade sports drinks and vitaminwater.

Coca-Cola Consolidated’s operations span 14 states and the District of Columbia across the Southeastern, South Central and Mid-Atlantic regions.