River Road Asset Management LLC Reduces Stock Position in Coca-Cola Consolidated, Inc. $COKE

River Road Asset Management LLC cut its position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 12.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 124,005 shares of the company’s stock after selling 17,023 shares during the quarter. River Road Asset Management LLC’s holdings in Coca-Cola Consolidated were worth $19,010,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in COKE. Beacon Pointe Advisors LLC increased its stake in shares of Coca-Cola Consolidated by 2.6% during the 4th quarter. Beacon Pointe Advisors LLC now owns 2,842 shares of the company’s stock valued at $436,000 after acquiring an additional 72 shares during the last quarter. Fifth Third Bancorp raised its holdings in Coca-Cola Consolidated by 16.0% in the third quarter. Fifth Third Bancorp now owns 528 shares of the company’s stock valued at $62,000 after buying an additional 73 shares during the period. UMB Bank n.a. lifted its position in Coca-Cola Consolidated by 8.9% during the fourth quarter. UMB Bank n.a. now owns 951 shares of the company’s stock valued at $146,000 after buying an additional 78 shares in the last quarter. Legacy Wealth Asset Management LLC grew its stake in Coca-Cola Consolidated by 2.3% during the fourth quarter. Legacy Wealth Asset Management LLC now owns 4,021 shares of the company’s stock worth $616,000 after buying an additional 89 shares during the period. Finally, Private Advisor Group LLC grew its stake in Coca-Cola Consolidated by 2.2% during the third quarter. Private Advisor Group LLC now owns 4,297 shares of the company’s stock worth $503,000 after buying an additional 94 shares during the period. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Consolidated Stock Performance

COKE opened at $181.54 on Friday. The stock has a market capitalization of $12.08 billion, a PE ratio of 24.83 and a beta of 0.55. The firm’s fifty day moving average price is $184.14 and its 200 day moving average price is $176.85. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.23 and a quick ratio of 0.91. Coca-Cola Consolidated, Inc. has a 12-month low of $105.97 and a 12-month high of $219.65.

Coca-Cola Consolidated (NASDAQ:COKE) last issued 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 business had revenue of $1.71 billion for the quarter.

Coca-Cola Consolidated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Friday, April 24th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Friday, April 24th. Coca-Cola Consolidated’s dividend payout ratio (DPR) is presently 13.68%.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Friday, March 27th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Coca-Cola Consolidated has a consensus rating of “Buy”.

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.