Coca-Cola Consolidated, Inc. $COKE Position Reduced by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP has reduced its stake in Coca-Cola Consolidated, owning 105,744 shares valued at approximately $142.73 million after a 9.2% decrease in the first quarter.
• Several institutional investors have adjusted their holdings, with notable increases from Linden Thomas Advisory Services LLC by 3.5% and Sunbelt Securities Inc. by 10.8% in recent quarters.
• Coca-Cola Consolidated reported $2.24 earnings per share for the quarter, with a net margin of 8.43% and an annualized dividend of $1.00 at a yield of 0.8%.

Dimensional Fund Advisors LP trimmed its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 9.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 105,744 shares of the company's stock after selling 10,712 shares during the period. Dimensional Fund Advisors LP owned 1.21% of Coca-Cola Consolidated worth $142,729,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC boosted its stake in Coca-Cola Consolidated by 175,140.4% in the first quarter. GAMMA Investing LLC now owns 182,250 shares of the company's stock valued at $246,038,000 after acquiring an additional 182,146 shares during the period. Boston Partners boosted its stake in Coca-Cola Consolidated by 676.9% in the first quarter. Boston Partners now owns 200,518 shares of the company's stock valued at $270,711,000 after acquiring an additional 174,709 shares during the period. Estuary Capital Management LP acquired a new position in Coca-Cola Consolidated in the fourth quarter valued at approximately $42,845,000. Lord Abbett & CO. LLC acquired a new position in Coca-Cola Consolidated in the first quarter valued at approximately $21,557,000. Finally, Nuveen LLC acquired a new position in Coca-Cola Consolidated in the first quarter valued at approximately $19,346,000. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Coca-Cola Consolidated from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th.

Coca-Cola Consolidated Stock Performance

Shares of COKE traded down $1.56 during mid-day trading on Tuesday, reaching $115.01. 509,193 shares of the company's stock traded hands, compared to its average volume of 423,145. The business's 50-day moving average price is $113.68 and its 200-day moving average price is $130.09. The stock has a market capitalization of $9.99 billion, a P/E ratio of 17.16 and a beta of 0.81. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.78 and a current ratio of 2.04. Coca-Cola Consolidated, Inc. has a 12 month low of $105.21 and a 12 month high of $146.09.

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

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 issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, July 25th. Coca-Cola Consolidated's payout ratio is 14.93%.

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.