Vaughan Nelson Investment Management L.P. Sells 4,618 Shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Vaughan Nelson Investment Management L.P. decreased its stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 11.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,018 shares of the company's stock after selling 4,618 shares during the quarter. Vaughan Nelson Investment Management L.P. owned 0.40% of Coca-Cola Consolidated worth $47,273,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP increased its stake in shares of Coca-Cola Consolidated by 260.0% in the 4th quarter. Allworth Financial LP now owns 36 shares of the company's stock valued at $48,000 after acquiring an additional 26 shares during the last quarter. Transce3nd LLC acquired a new position in Coca-Cola Consolidated during the fourth quarter valued at approximately $63,000. Fifth Third Bancorp increased its stake in Coca-Cola Consolidated by 40.9% in the first quarter. Fifth Third Bancorp now owns 62 shares of the company's stock valued at $84,000 after purchasing an additional 18 shares in the last quarter. Signaturefd LLC increased its stake in Coca-Cola Consolidated by 36.7% in the fourth quarter. Signaturefd LLC now owns 82 shares of the company's stock valued at $103,000 after purchasing an additional 22 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in Coca-Cola Consolidated by 70.6% in the first quarter. UMB Bank n.a. now owns 87 shares of the company's stock worth $117,000 after purchasing an additional 36 shares during the period. Institutional investors own 48.24% of the company's stock.

Wall Street Analyst Weigh In

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

Coca-Cola Consolidated Stock Up 0.6%

Shares of NASDAQ COKE traded up $0.65 during mid-day trading on Wednesday, reaching $106.37. 303,783 shares of the company's stock were exchanged, compared to its average volume of 517,071. Coca-Cola Consolidated, Inc. has a twelve month low of $96.50 and a twelve month high of $146.09. The company has a current ratio of 2.03, a quick ratio of 1.76 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $9.27 billion, a price-to-earnings ratio of 16.57 and a beta of 0.81. The business has a fifty day simple moving average of $141.87 and a 200 day simple moving average of $135.58.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $1.56 earnings per share (EPS) for the quarter. Coca-Cola Consolidated had a return on equity of 48.35% and a net margin of 8.29%. The business had revenue of $1.58 billion during the quarter.

Coca-Cola Consolidated Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 25th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, April 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.94%. Coca-Cola Consolidated's payout ratio is 15.60%.

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.