US Bancorp DE Trims Holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

US Bancorp DE lessened its stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 3.5% in the third quarter, Holdings Channel reports. The institutional investor owned 1,361 shares of the company’s stock after selling 50 shares during the quarter. US Bancorp DE’s holdings in Coca-Cola Consolidated were worth $1,792,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in COKE. Millennium Management LLC grew its holdings in Coca-Cola Consolidated by 1,308.6% during the 2nd quarter. Millennium Management LLC now owns 172,788 shares of the company’s stock worth $187,475,000 after acquiring an additional 160,521 shares in the last quarter. International Assets Investment Management LLC grew its stake in Coca-Cola Consolidated by 74,390.2% in the third quarter. International Assets Investment Management LLC now owns 152,705 shares of the company’s stock worth $201,021,000 after purchasing an additional 152,500 shares in the last quarter. Wallace Capital Management Inc. bought a new stake in Coca-Cola Consolidated in the second quarter valued at about $90,404,000. Vaughan Nelson Investment Management L.P. raised its stake in Coca-Cola Consolidated by 88.0% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 112,156 shares of the company’s stock valued at $121,689,000 after buying an additional 52,491 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Coca-Cola Consolidated by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 608,875 shares of the company’s stock worth $515,358,000 after buying an additional 30,443 shares during the last quarter. 48.24% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Consolidated Price Performance

Shares of COKE opened at $1,190.94 on Thursday. Coca-Cola Consolidated, Inc. has a 52 week low of $662.31 and a 52 week high of $1,376.84. The company has a current ratio of 2.47, a quick ratio of 2.15 and a debt-to-equity ratio of 1.39. The firm has a market cap of $10.43 billion, a price-to-earnings ratio of 20.73 and a beta of 0.85. The stock has a 50 day moving average of $1,275.47 and a 200-day moving average of $1,137.46.

Coca-Cola Consolidated (NASDAQ:COKE) last released its quarterly earnings data on Wednesday, October 30th. The company reported $18.81 EPS for the quarter. Coca-Cola Consolidated had a net margin of 7.81% and a return on equity of 46.94%. The firm had revenue of $1.77 billion during the quarter.

Coca-Cola Consolidated Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 25th will be given a dividend of $2.50 per share. This represents a $10.00 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, October 25th. This is an increase from Coca-Cola Consolidated’s previous quarterly dividend of $0.25. Coca-Cola Consolidated’s dividend payout ratio is currently 17.40%.

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.