Dimensional Fund Advisors LP Cuts Stake in Coca-Cola Consolidated, Inc. $COKE

Dimensional Fund Advisors LP cut its holdings in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 12.8% during the first quarter, Holdings Channel.com reports. The institutional investor owned 972,176 shares of the company’s stock after selling 143,325 shares during the period. Dimensional Fund Advisors LP’s holdings in Coca-Cola Consolidated were worth $186,357,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Quarry LP purchased a new stake in shares of Coca-Cola Consolidated during the third quarter worth $25,000. Advisory Services Network LLC purchased a new position in Coca-Cola Consolidated in the third quarter valued at $25,000. Newbridge Financial Services Group Inc. boosted its holdings in Coca-Cola Consolidated by 900.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company’s stock valued at $26,000 after purchasing an additional 207 shares during the period. Geneos Wealth Management Inc. boosted its holdings in Coca-Cola Consolidated by 900.0% in the second quarter. Geneos Wealth Management Inc. now owns 250 shares of the company’s stock valued at $28,000 after purchasing an additional 225 shares during the period. Finally, Torren Management LLC acquired a new position in Coca-Cola Consolidated during the 4th quarter worth $29,000. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy”.

Coca-Cola Consolidated Stock Up 3.5%

Shares of NASDAQ:COKE opened at $184.70 on Friday. The firm’s 50 day moving average price is $181.03 and its 200 day moving average price is $180.56. The stock has a market cap of $12.29 billion, a price-to-earnings ratio of 25.27 and a beta of 0.54. Coca-Cola Consolidated, Inc. has a fifty-two week low of $110.40 and a fifty-two week high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $1.79 EPS for the quarter. Coca-Cola Consolidated had a net margin of 7.72% and a return on equity of 138.44%. The company had revenue of $1.71 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 24th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, July 24th. Coca-Cola Consolidated’s payout ratio is 13.68%.

About Coca-Cola Consolidated

Founded in 1902 and headquartered in Charlotte, North Carolina, Coca-Cola Consolidated, Inc is the largest independent bottler of Coca-Cola products in the United States. The company manufactures, sells and distributes a broad portfolio of sparkling and still beverages under exclusive agreements with The Coca-Cola Company. Its brand lineup includes Coca-Cola, Diet Coke, Sprite and Fanta, as well as noncarbonated offerings such as Minute Maid juices, Gold Peak teas, Dasani water, Powerade sports drinks and vitaminwater.

Coca-Cola Consolidated’s operations span 14 states and the District of Columbia across the Southeastern, South Central and Mid-Atlantic regions.