Vanguard Group Inc. Has $766.89 Million Stock Holdings in 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. lowered its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 1.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 568,070 shares of the company's stock after selling 10,846 shares during the period. Vanguard Group Inc. owned 6.52% of Coca-Cola Consolidated worth $766,894,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of COKE. GAMMA Investing LLC grew its holdings in Coca-Cola Consolidated by 175,140.4% during the 1st quarter. GAMMA Investing LLC now owns 182,250 shares of the company's stock worth $246,038,000 after acquiring an additional 182,146 shares during the period. Estuary Capital Management LP acquired a new position in Coca-Cola Consolidated in the 4th quarter worth $42,845,000. Raymond James Financial Inc. acquired a new position in Coca-Cola Consolidated in the 4th quarter worth $27,078,000. Susquehanna Fundamental Investments LLC bought a new stake in Coca-Cola Consolidated during the 4th quarter worth about $14,104,000. Finally, Northern Trust Corp boosted its position in Coca-Cola Consolidated by 27.3% during the fourth quarter. Northern Trust Corp now owns 51,778 shares of the company's stock valued at $65,240,000 after purchasing an additional 11,104 shares during the last quarter. Institutional investors own 48.24% of the company's stock.

Analyst Ratings Changes

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

Coca-Cola Consolidated Stock Performance

Coca-Cola Consolidated stock traded down $1.67 during trading hours on Friday, hitting $113.05. The company had a trading volume of 397,915 shares, compared to its average volume of 567,989. The firm has a 50-day moving average of $112.35 and a 200 day moving average of $131.21. Coca-Cola Consolidated, Inc. has a one year low of $105.21 and a one year high of $146.09. The firm 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 current ratio of 2.04 and a quick ratio of 1.78.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The company reported $2.24 earnings per share (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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Friday, July 25th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend 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 (DPR) is presently 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.