Vaughan Nelson Investment Management L.P. Reduces Stock Position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Vaughan Nelson Investment Management L.P. lowered its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 11.7% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 35,018 shares of the company's stock after selling 4,618 shares during the period. Vaughan Nelson Investment Management L.P. owned approximately 0.40% of Coca-Cola Consolidated worth $47,273,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC boosted its stake in shares of Coca-Cola Consolidated by 197,133.5% in the 4th quarter. Proficio Capital Partners LLC now owns 453,637 shares of the company's stock worth $571,578,000 after buying an additional 453,407 shares during the last quarter. Norges Bank purchased a new position in Coca-Cola Consolidated in the fourth quarter worth $284,418,000. GAMMA Investing LLC grew its stake in Coca-Cola Consolidated by 175,140.4% in the 1st quarter. GAMMA Investing LLC now owns 182,250 shares of the company's stock valued at $246,038,000 after purchasing an additional 182,146 shares during the period. Estuary Capital Management LP purchased a new stake in shares of Coca-Cola Consolidated during the 4th quarter valued at $42,845,000. Finally, Invesco Ltd. raised its stake in shares of Coca-Cola Consolidated by 33.3% during the 4th quarter. Invesco Ltd. now owns 125,003 shares of the company's stock worth $157,503,000 after purchasing an additional 31,195 shares during the period. 48.24% of the stock is owned by institutional investors.

Coca-Cola Consolidated Stock Performance

Shares of Coca-Cola Consolidated stock traded down $1.36 on Monday, reaching $107.26. 279,285 shares of the company traded hands, compared to its average volume of 514,158. The company has a 50 day moving average of $142.92 and a 200 day moving average of $135.95. The company has a debt-to-equity ratio of 1.39, a current ratio of 2.47 and a quick ratio of 2.15. Coca-Cola Consolidated, Inc. has a 52 week low of $96.50 and a 52 week high of $146.09. The firm has a market capitalization of $9.35 billion, a PE ratio of 1.53 and a beta of 0.81.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $1.56 earnings per share for the quarter. The business had revenue of $1.58 billion during the quarter. Coca-Cola Consolidated had a return on equity of 49.88% and a net margin of 9.18%.

Coca-Cola Consolidated Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 25th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date was Friday, April 25th. Coca-Cola Consolidated's dividend payout ratio is currently 15.60%.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Coca-Cola Consolidated from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 10th.

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.