Wellington Management Group LLP Makes New $6.10 Million Investment in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Wellington Management Group LLP purchased a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,573 shares of the company’s stock, valued at approximately $6,102,000. Wellington Management Group LLP owned approximately 0.07% of Coca-Cola Consolidated as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of COKE. Vanguard Group Inc. grew its position in Coca-Cola Consolidated by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 580,785 shares of the company’s stock valued at $369,565,000 after buying an additional 19,877 shares in the last quarter. Norges Bank bought a new position in shares of Coca-Cola Consolidated in the fourth quarter valued at approximately $188,138,000. International Assets Investment Management LLC acquired a new position in shares of Coca-Cola Consolidated during the fourth quarter valued at approximately $174,971,000. AQR Capital Management LLC lifted its position in Coca-Cola Consolidated by 8.6% in the third quarter. AQR Capital Management LLC now owns 92,222 shares of the company’s stock worth $58,683,000 after purchasing an additional 7,336 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Coca-Cola Consolidated by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 71,734 shares of the company’s stock valued at $66,598,000 after purchasing an additional 1,049 shares in the last quarter. 48.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Coca-Cola Consolidated Stock Performance

NASDAQ:COKE opened at $1,085.00 on Friday. The company has a 50-day moving average of $960.53 and a 200-day moving average of $895.30. The firm has a market cap of $10.17 billion, a price-to-earnings ratio of 22.34 and a beta of 0.74. The company has a current ratio of 1.87, a quick ratio of 1.47 and a debt-to-equity ratio of 0.38. Coca-Cola Consolidated, Inc. has a twelve month low of $614.22 and a twelve month high of $1,090.34.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings results on Monday, May 6th. The company reported $17.31 earnings per share (EPS) for the quarter. The firm had revenue of $1.59 billion for the quarter. Coca-Cola Consolidated had a net margin of 6.83% and a return on equity of 42.10%.

Coca-Cola Consolidated Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Friday, April 26th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.18%. The ex-dividend date of this dividend was Thursday, April 25th. Coca-Cola Consolidated’s dividend payout ratio is 4.12%.

Coca-Cola Consolidated Company 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.