Vanguard Group Inc. Sells 10,846 Shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Key Points

• Vanguard Group Inc. reduced its stake in Coca-Cola Consolidated, decreasing its shares by 1.9%, now holding approximately 6.52% of the company worth $766.9 million.
• Coca-Cola Consolidated recently declared a quarterly dividend of $0.25 per share, representing an annualized yield of 0.9%, with a payout ratio of 14.93%.
• Analysts have upgraded Coca-Cola Consolidated from a "hold" rating to a "buy" rating, indicating positive sentiment towards the company's performance.

Vanguard Group Inc. decreased its holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 1.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 568,070 shares of the company's stock after selling 10,846 shares during the period. Vanguard Group Inc. owned about 6.52% of Coca-Cola Consolidated worth $766,894,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of COKE. Linden Thomas Advisory Services LLC lifted its position in Coca-Cola Consolidated by 3.5% during the first quarter. Linden Thomas Advisory Services LLC now owns 265 shares of the company's stock valued at $358,000 after purchasing an additional 9 shares in the last quarter. Sunbelt Securities Inc. lifted its position in shares of Coca-Cola Consolidated by 10.8% in the fourth quarter. Sunbelt Securities Inc. now owns 103 shares of the company's stock valued at $128,000 after acquiring an additional 10 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of Coca-Cola Consolidated by 0.3% in the first quarter. State of Alaska Department of Revenue now owns 3,973 shares of the company's stock valued at $5,363,000 after acquiring an additional 10 shares in the last quarter. HBK Sorce Advisory LLC lifted its position in shares of Coca-Cola Consolidated by 2.9% in the first quarter. HBK Sorce Advisory LLC now owns 357 shares of the company's stock valued at $481,000 after acquiring an additional 10 shares in the last quarter. Finally, Monument Capital Management lifted its position in shares of Coca-Cola Consolidated by 0.3% in the first quarter. Monument Capital Management now owns 3,955 shares of the company's stock valued at $5,339,000 after acquiring an additional 10 shares in the last quarter. Institutional investors own 48.24% of the company's stock.

Coca-Cola Consolidated Price Performance

Shares of Coca-Cola Consolidated stock traded down $1.67 during trading hours on Friday, hitting $113.05. The company's stock had a trading volume of 397,915 shares, compared to its average volume of 560,386. The business has a 50 day moving average price of $112.44 and a two-hundred day moving average price of $131.04. Coca-Cola Consolidated, Inc. has a 12-month low of $105.21 and a 12-month high of $146.09. The company has a market cap of $9.82 billion, a PE ratio of 16.87 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 (NASDAQ:COKE - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $2.24 EPS for the quarter. Coca-Cola Consolidated had a return on equity of 44.91% and a net margin of 8.43%. The business had revenue of $1.86 billion for the quarter.

Coca-Cola Consolidated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Friday, July 25th were issued a $0.25 dividend. This represents a $1.00 annualized dividend 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%.

Wall Street Analyst Weigh In

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

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.