Vanguard Group Inc. Decreases Stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Vanguard Group Inc. decreased its holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 1.9% in the 1st quarter, HoldingsChannel reports. The fund owned 568,070 shares of the company’s stock after selling 10,846 shares during the quarter. Vanguard Group Inc. owned about 0.07% of Coca-Cola Consolidated worth $766,894,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of COKE. Envestnet Asset Management Inc. grew its stake in shares of Coca-Cola Consolidated by 4.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 1,400 shares of the company’s stock worth $1,764,000 after purchasing an additional 56 shares during the period. Bank of Montreal Can grew its position in Coca-Cola Consolidated by 17.7% during the fourth quarter. Bank of Montreal Can now owns 1,203 shares of the company’s stock worth $1,516,000 after buying an additional 181 shares during the period. Advisory Services Network LLC acquired a new position in Coca-Cola Consolidated during the fourth quarter worth about $228,000. Raymond James Financial Inc. purchased a new position in Coca-Cola Consolidated in the fourth quarter valued at about $27,078,000. Finally, Treasurer of the State of North Carolina lifted its position in shares of Coca-Cola Consolidated by 34.5% during the 4th quarter. Treasurer of the State of North Carolina now owns 3,552 shares of the company’s stock valued at $4,475,000 after acquiring an additional 912 shares during the period. Institutional investors and hedge funds own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Up 0.3%

Coca-Cola Consolidated stock opened at $114.89 on Wednesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.78 and a current ratio of 2.04. The firm has a market capitalization of $9.98 billion, a price-to-earnings ratio of 17.14 and a beta of 0.81. Coca-Cola Consolidated, Inc. has a fifty-two week low of $105.21 and a fifty-two week high of $146.09. The stock’s fifty day moving average is $112.03 and its two-hundred day moving average is $131.44.

Coca-Cola Consolidated (NASDAQ:COKE) last released its quarterly earnings data on Thursday, July 24th. The company reported $2.24 EPS for the quarter. The business had revenue of $1.86 billion for the quarter. Coca-Cola Consolidated had a net margin of 8.43% and a return on equity of 44.91%.

Coca-Cola Consolidated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Friday, July 25th were given a $0.25 dividend. The ex-dividend date was Friday, July 25th. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. Coca-Cola Consolidated’s dividend payout ratio is currently 14.93%.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Coca-Cola Consolidated from a “hold” rating to a “buy” rating in a report on Saturday, July 26th.

Coca-Cola Consolidated Company 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.