Acadian Asset Management LLC Lowers Holdings in Coca-Cola Consolidated, Inc. $COKE

Acadian Asset Management LLC decreased its holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 5.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,420 shares of the company’s stock after selling 266 shares during the quarter. Acadian Asset Management LLC owned 0.05% of Coca-Cola Consolidated worth $5,965,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Jones Financial Companies Lllp lifted its stake in Coca-Cola Consolidated by 265,541.3% in the first quarter. Jones Financial Companies Lllp now owns 502,062 shares of the company’s stock worth $677,784,000 after acquiring an additional 501,873 shares during the last quarter. GAMMA Investing LLC lifted its stake in Coca-Cola Consolidated by 175,140.4% in the first quarter. GAMMA Investing LLC now owns 182,250 shares of the company’s stock worth $246,038,000 after acquiring an additional 182,146 shares during the last quarter. Boston Partners lifted its stake in Coca-Cola Consolidated by 676.9% in the first quarter. Boston Partners now owns 200,518 shares of the company’s stock worth $270,711,000 after acquiring an additional 174,709 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in Coca-Cola Consolidated in the first quarter worth approximately $21,557,000. Finally, Nuveen LLC purchased a new position in Coca-Cola Consolidated in the first quarter worth approximately $19,346,000. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Coca-Cola Consolidated from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th.

Coca-Cola Consolidated Stock Down 1.7%

Shares of NASDAQ:COKE opened at $121.98 on Friday. The firm has a 50 day simple moving average of $115.87 and a 200-day simple moving average of $128.17. The company has a market capitalization of $10.60 billion, a PE ratio of 18.20 and a beta of 0.76. Coca-Cola Consolidated, Inc. has a twelve month low of $105.21 and a twelve month high of $146.09. The company has a current ratio of 2.04, a quick ratio of 1.78 and a debt-to-equity ratio of 0.88.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its earnings results on Thursday, July 24th. The company reported $2.24 EPS for the quarter. The business had revenue of $1.86 billion for the quarter. Coca-Cola Consolidated had a net margin of 8.43% and a return on equity of 44.91%.

Coca-Cola Consolidated Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Friday, July 25th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, July 25th. Coca-Cola Consolidated’s payout ratio is presently 14.93%.

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.