Los Angeles Capital Management LLC Sells 27,940 Shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Los Angeles Capital Management LLC lessened its stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 87.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,127 shares of the company's stock after selling 27,940 shares during the period. Los Angeles Capital Management LLC's holdings in Coca-Cola Consolidated were worth $5,433,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Millennium Management LLC raised its stake in Coca-Cola Consolidated by 1,308.6% in the second quarter. Millennium Management LLC now owns 172,788 shares of the company's stock worth $187,475,000 after buying an additional 160,521 shares in the last quarter. International Assets Investment Management LLC lifted its position in Coca-Cola Consolidated by 74,390.2% in the third quarter. International Assets Investment Management LLC now owns 152,705 shares of the company's stock valued at $201,021,000 after buying an additional 152,500 shares during the last quarter. Wallace Capital Management Inc. acquired a new stake in shares of Coca-Cola Consolidated during the second quarter worth about $90,404,000. Vaughan Nelson Investment Management L.P. increased its stake in Coca-Cola Consolidated by 88.0% in the second 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. Finally, Vanguard Group Inc. grew its position in shares of Coca-Cola Consolidated by 5.3% during the first quarter. Vanguard Group Inc. now owns 608,875 shares of the company's stock worth $515,358,000 after acquiring an additional 30,443 shares during the last quarter. Institutional investors own 48.24% of the company's stock.

Coca-Cola Consolidated Price Performance

Shares of COKE stock traded up $16.10 during mid-day trading on Tuesday, reaching $1,236.97. The stock had a trading volume of 17,011 shares, compared to its average volume of 52,019. The company has a market cap of $10.84 billion, a P/E ratio of 21.25 and a beta of 0.85. The business has a 50-day simple moving average of $1,267.92 and a 200 day simple moving average of $1,147.57. Coca-Cola Consolidated, Inc. has a 12-month low of $672.47 and a 12-month high of $1,376.84. The company has a current ratio of 2.47, a quick ratio of 2.15 and a debt-to-equity ratio of 1.39.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $18.81 earnings per share for the quarter. Coca-Cola Consolidated had a return on equity of 46.94% and a net margin of 7.81%. The business had revenue of $1.77 billion during the quarter.

Coca-Cola Consolidated Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, October 25th were given a dividend of $2.50 per share. This is a boost from Coca-Cola Consolidated's previous quarterly dividend of $0.25. This represents a $10.00 annualized dividend and a dividend yield of 0.81%. The ex-dividend date was Friday, October 25th. Coca-Cola Consolidated's dividend payout ratio is currently 17.40%.

Coca-Cola Consolidated 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.