Coca-Cola Consolidated, Inc. (NASDAQ:COKE) Stock Position Trimmed by Vanguard Group Inc.

Vanguard Group Inc. lowered its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 0.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 578,432 shares of the company's stock after selling 2,353 shares during the period. Vanguard Group Inc. owned approximately 6.17% of Coca-Cola Consolidated worth $537,016,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Xponance Inc. boosted its position in shares of Coca-Cola Consolidated by 1.8% during the 4th quarter. Xponance Inc. now owns 690 shares of the company's stock worth $641,000 after purchasing an additional 12 shares during the period. CWM LLC boosted its position in Coca-Cola Consolidated by 22.2% in the 4th quarter. CWM LLC now owns 66 shares of the company's stock valued at $61,000 after buying an additional 12 shares during the period. Comerica Bank boosted its position in Coca-Cola Consolidated by 0.9% in the 4th quarter. Comerica Bank now owns 1,554 shares of the company's stock valued at $1,442,000 after buying an additional 14 shares during the period. Meritage Portfolio Management boosted its position in Coca-Cola Consolidated by 2.1% in the 4th quarter. Meritage Portfolio Management now owns 743 shares of the company's stock valued at $690,000 after buying an additional 15 shares during the period. Finally, Exchange Traded Concepts LLC boosted its position in Coca-Cola Consolidated by 1.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 937 shares of the company's stock valued at $870,000 after buying an additional 16 shares during the period. Hedge funds and other institutional investors own 48.24% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Coca-Cola Consolidated from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 23rd.

Coca-Cola Consolidated Stock Up 2.0 %

COKE stock traded up $20.37 during midday trading on Tuesday, hitting $1,053.44. The company's stock had a trading volume of 59,098 shares, compared to its average volume of 50,760. The company has a quick ratio of 1.47, a current ratio of 1.87 and a debt-to-equity ratio of 0.38. Coca-Cola Consolidated, Inc. has a 52-week low of $614.22 and a 52-week high of $1,054.36. The firm has a market capitalization of $9.87 billion, a P/E ratio of 21.69 and a beta of 0.74. The firm has a 50-day simple moving average of $944.76 and a 200-day simple moving average of $891.05.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last issued its quarterly earnings results on Monday, May 6th. The company reported $17.31 EPS for the quarter. Coca-Cola Consolidated had a net margin of 6.83% and a return on equity of 42.10%. The company had revenue of $1.59 billion during the quarter.

Coca-Cola Consolidated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Friday, April 26th were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.19%. Coca-Cola Consolidated's payout ratio is 4.12%.

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.