Flynn Zito Capital Management LLC Trims Holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Flynn Zito Capital Management LLC decreased its position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 3.3% in the second quarter, HoldingsChannel reports. The firm owned 1,518 shares of the company’s stock after selling 51 shares during the quarter. Coca-Cola Consolidated accounts for 0.8% of Flynn Zito Capital Management LLC’s portfolio, making the stock its 21st biggest position. Flynn Zito Capital Management LLC’s holdings in Coca-Cola Consolidated were worth $1,647,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Victory Capital Management Inc. boosted its holdings in Coca-Cola Consolidated by 103.4% in the fourth quarter. Victory Capital Management Inc. now owns 3,427 shares of the company’s stock valued at $3,182,000 after purchasing an additional 1,742 shares during the last quarter. Amalgamated Bank boosted its stake in shares of Coca-Cola Consolidated by 0.7% in the fourth quarter. Amalgamated Bank now owns 2,958 shares of the company’s stock worth $2,746,000 after buying an additional 20 shares during the last quarter. Private Advisor Group LLC boosted its stake in shares of Coca-Cola Consolidated by 47.7% in the fourth quarter. Private Advisor Group LLC now owns 743 shares of the company’s stock worth $690,000 after buying an additional 240 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Coca-Cola Consolidated by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 71,734 shares of the company’s stock worth $66,598,000 after acquiring an additional 1,049 shares during the period. Finally, Principal Securities Inc. purchased a new position in Coca-Cola Consolidated during the fourth quarter valued at approximately $97,000. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Insider Activity

In other news, major shareholder Cola Co Coca sold 598,619 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the transaction, the insider now owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Coca-Cola Consolidated Stock Down 1.4 %

COKE stock opened at $1,329.90 on Friday. Coca-Cola Consolidated, Inc. has a one year low of $614.22 and a one year high of $1,374.25. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.75 and a current ratio of 1.97. The firm’s fifty day moving average is $1,204.55 and its 200 day moving average is $1,005.94. The firm has a market cap of $12.47 billion, a PE ratio of 27.39 and a beta of 0.78.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its earnings results on Wednesday, July 31st. The company reported $20.71 earnings per share (EPS) for the quarter. Coca-Cola Consolidated had a net margin of 7.52% and a return on equity of 44.83%. The business had revenue of $1.80 billion for the quarter.

Coca-Cola Consolidated Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date of this dividend was Friday, July 26th. Coca-Cola Consolidated’s dividend payout ratio (DPR) is presently 20.59%.

Analysts Set New Price Targets

Separately, StockNews.com lowered Coca-Cola Consolidated from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 23rd.

Coca-Cola Consolidated 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.