Bank of Nova Scotia Sells 46,911 Shares of Coca-Cola Consolidated, Inc. $COKE

Bank of Nova Scotia lessened its position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 49.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 47,100 shares of the company’s stock after selling 46,911 shares during the quarter. Bank of Nova Scotia owned approximately 0.07% of Coca-Cola Consolidated worth $9,031,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bessemer Group Inc. increased its holdings in Coca-Cola Consolidated by 19.1% during the 1st quarter. Bessemer Group Inc. now owns 331 shares of the company’s stock valued at $63,000 after purchasing an additional 53 shares during the period. Beacon Pointe Advisors LLC grew its holdings in shares of Coca-Cola Consolidated by 2.6% during the fourth quarter. Beacon Pointe Advisors LLC now owns 2,842 shares of the company’s stock valued at $436,000 after buying an additional 72 shares during the last quarter. Wealthfront Advisers LLC boosted its position in Coca-Cola Consolidated by 4.1% during the first quarter. Wealthfront Advisers LLC now owns 1,869 shares of the company’s stock worth $358,000 after purchasing an additional 73 shares in the last quarter. UMB Bank n.a. boosted its stake in Coca-Cola Consolidated by 8.9% during the 4th quarter. UMB Bank n.a. now owns 951 shares of the company’s stock worth $146,000 after purchasing an additional 78 shares during the last quarter. Finally, Private Advisor Group LLC lifted its holdings in Coca-Cola Consolidated by 2.2% in the third quarter. Private Advisor Group LLC now owns 4,297 shares of the company’s stock valued at $503,000 after acquiring an additional 94 shares during the last quarter. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Coca-Cola Consolidated Price Performance

Shares of COKE opened at $184.70 on Monday. The company has a 50-day moving average of $181.03 and a two-hundred day moving average of $180.78. The stock has a market cap of $12.29 billion, a price-to-earnings ratio of 25.27 and a beta of 0.54. Coca-Cola Consolidated, Inc. has a one year low of $110.40 and a one year high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its earnings results on Wednesday, May 6th. The company reported $1.79 EPS for the quarter. The company had revenue of $1.71 billion during the quarter. Coca-Cola Consolidated had a net margin of 7.72% and a return on equity of 138.44%.

Coca-Cola Consolidated Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. Coca-Cola Consolidated’s payout ratio is currently 13.68%.

About Coca-Cola Consolidated

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.