Russell Investments Group Ltd. Reduces Position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Russell Investments Group Ltd. trimmed its stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 8.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,784 shares of the company’s stock after selling 1,026 shares during the period. Russell Investments Group Ltd. owned 0.12% of Coca-Cola Consolidated worth $10,020,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of COKE. Vanguard Group Inc. grew its stake in shares of Coca-Cola Consolidated by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 580,785 shares of the company’s stock valued at $369,565,000 after acquiring an additional 19,877 shares during the period. American Century Companies Inc. lifted its stake in shares of Coca-Cola Consolidated by 3.8% during the 3rd quarter. American Century Companies Inc. now owns 44,460 shares of the company’s stock valued at $28,291,000 after buying an additional 1,628 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in Coca-Cola Consolidated by 36.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 1,173 shares of the company’s stock worth $747,000 after buying an additional 311 shares during the period. Invesco Ltd. lifted its position in shares of Coca-Cola Consolidated by 4.6% in the third quarter. Invesco Ltd. now owns 114,973 shares of the company’s stock valued at $73,160,000 after acquiring an additional 5,084 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its stake in shares of Coca-Cola Consolidated by 100.0% in the third quarter. Sunbelt Securities Inc. now owns 74 shares of the company’s stock worth $47,000 after acquiring an additional 37 shares during the period. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Coca-Cola Consolidated from a “buy” rating to a “strong-buy” rating in a report on Friday, February 23rd.

Coca-Cola Consolidated Stock Performance

Shares of NASDAQ COKE opened at $853.40 on Monday. The firm’s fifty day moving average is $832.46 and its two-hundred day moving average is $814.79. Coca-Cola Consolidated, Inc. has a 52-week low of $610.47 and a 52-week high of $961.91. The company has a market cap of $8.00 billion, a P/E ratio of 19.63 and a beta of 0.73. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.27 and a current ratio of 1.56.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its earnings results on Wednesday, February 21st. The company reported $13.39 EPS for the quarter. The company had revenue of $1.63 billion for the quarter. Coca-Cola Consolidated had a return on equity of 44.12% and a net margin of 6.14%.

Coca-Cola Consolidated Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend is Thursday, April 25th. Coca-Cola Consolidated’s dividend payout ratio (DPR) is presently 4.60%.

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.