Rhumbline Advisers Decreases Stock Holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Rhumbline Advisers trimmed its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 8.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,057 shares of the company’s stock after selling 1,288 shares during the quarter. Rhumbline Advisers owned 0.15% of Coca-Cola Consolidated worth $15,252,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in COKE. Norges Bank purchased a new position in Coca-Cola Consolidated during the 4th quarter valued at $188,138,000. Vaughan Nelson Investment Management L.P. increased its position in Coca-Cola Consolidated by 88.0% during the 2nd 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 period. Hennessy Advisors Inc. purchased a new position in Coca-Cola Consolidated during the 4th quarter valued at $30,318,000. Vanguard Group Inc. increased its position in Coca-Cola Consolidated by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 608,875 shares of the company’s stock valued at $515,358,000 after purchasing an additional 30,443 shares during the period. Finally, HighPoint Advisor Group LLC purchased a new position in Coca-Cola Consolidated during the 4th quarter valued at $16,838,000. 48.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Transactions at Coca-Cola Consolidated

In other news, major shareholder Cola Co Coca sold 598,619 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $925.00, for a total value of $553,722,575.00. Following the sale, the insider now directly owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Coca-Cola Consolidated Stock Up 1.6 %

NASDAQ:COKE opened at $1,350.83 on Tuesday. The firm’s 50-day moving average price is $1,209.36 and its 200-day moving average price is $1,012.07. The company has a market capitalization of $11.83 billion, a PE ratio of 27.82 and a beta of 0.81. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.97 and a quick ratio of 1.75. Coca-Cola Consolidated, Inc. has a 1-year low of $614.22 and a 1-year high of $1,376.84.

Coca-Cola Consolidated (NASDAQ:COKE) last released its earnings results on Wednesday, July 31st. The company reported $20.71 earnings per share for the quarter. The firm had revenue of $1.80 billion for the quarter. Coca-Cola Consolidated had a net margin of 7.52% and a return on equity of 44.83%.

Coca-Cola Consolidated Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date of this dividend was Friday, July 26th. Coca-Cola Consolidated’s dividend payout ratio is presently 4.12%.

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.