Coca-Cola Consolidated, Inc. (NASDAQ:COKE) Shares Sold by Acadian Asset Management LLC

Acadian Asset Management LLC trimmed its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 68.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,078 shares of the company’s stock after selling 6,678 shares during the quarter. Acadian Asset Management LLC’s holdings in Coca-Cola Consolidated were worth $3,338,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in COKE. Norges Bank acquired a new position in Coca-Cola Consolidated in the fourth quarter valued at approximately $188,138,000. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Coca-Cola Consolidated by 88.0% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 112,156 shares of the company’s stock valued at $121,689,000 after purchasing an additional 52,491 shares during the last quarter. Hennessy Advisors Inc. acquired a new position in shares of Coca-Cola Consolidated in the 4th quarter valued at $30,318,000. Vanguard Group Inc. grew its holdings in shares of Coca-Cola Consolidated by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 608,875 shares of the company’s stock worth $515,358,000 after purchasing an additional 30,443 shares during the period. Finally, Los Angeles Capital Management LLC increased its position in shares of Coca-Cola Consolidated by 1,271.0% during the 2nd quarter. Los Angeles Capital Management LLC now owns 32,067 shares of the company’s stock worth $34,793,000 after purchasing an additional 29,728 shares during the last quarter. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Coca-Cola Consolidated from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 23rd.

Coca-Cola Consolidated Stock Performance

NASDAQ:COKE opened at $1,271.09 on Friday. Coca-Cola Consolidated, Inc. has a fifty-two week low of $614.22 and a fifty-two week high of $1,376.84. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.75 and a current ratio of 1.97. The company has a 50 day moving average price of $1,216.72 and a 200 day moving average price of $1,017.14. The stock has a market capitalization of $11.92 billion, a P/E ratio of 26.31 and a beta of 0.82.

Coca-Cola Consolidated (NASDAQ:COKE) last released its quarterly earnings results on Wednesday, July 31st. The company reported $20.71 EPS for the quarter. The business had revenue of $1.80 billion during the quarter. Coca-Cola Consolidated had a return on equity of 44.83% and a net margin of 7.52%.

Coca-Cola Consolidated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were paid a dividend of $0.50 per share. The ex-dividend date was Friday, July 26th. This represents a $2.00 dividend on an annualized basis and a yield of 0.16%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is presently 20.59%.

Insider Transactions at Coca-Cola Consolidated

In related news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola Consolidated stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $925.00, for a total value of $553,722,575.00. Following the completion of the transaction, the insider now owns 1,883,546 shares in the company, valued at $1,742,280,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

About Coca-Cola Consolidated

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.