River Road Asset Management LLC Cuts Holdings in Coca-Cola Consolidated, Inc. $COKE

River Road Asset Management LLC decreased its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 12.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 owned 0.15% of Coca-Cola Consolidated worth $19,010,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in COKE. Torren Management LLC purchased a new position in Coca-Cola Consolidated in the fourth quarter valued at $29,000. Morse Asset Management Inc purchased a new position in Coca-Cola Consolidated during the 4th quarter worth approximately $31,000. Quarry LP acquired a new position in shares of Coca-Cola Consolidated in the 3rd quarter valued at $25,000. Advisory Services Network LLC acquired a new position in Coca-Cola Consolidated in the third quarter valued at $25,000. Finally, Smartleaf Asset Management LLC increased its position in Coca-Cola Consolidated by 175.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 220 shares of the company’s stock valued at $26,000 after acquiring an additional 140 shares during the period. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Price Performance

Shares of NASDAQ COKE opened at $181.54 on Friday. The firm has a 50-day moving average price of $184.14 and a 200 day moving average price of $176.85. The stock has a market capitalization of $12.08 billion, a price-to-earnings ratio of 24.83 and a beta of 0.55. The company has a quick ratio of 0.91, a current ratio of 1.23 and a debt-to-equity ratio of 0.88. Coca-Cola Consolidated, Inc. has a 52 week low of $105.97 and a 52 week high of $219.65.

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

Coca-Cola Consolidated Dividend Announcement

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Friday, March 27th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy”.

Coca-Cola Consolidated Profile

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.