Principal Financial Group Inc. Sells 3,651 Shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Principal Financial Group Inc. reduced its holdings in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 21.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,653 shares of the company’s stock after selling 3,651 shares during the period. Principal Financial Group Inc.’s holdings in Coca-Cola Consolidated were worth $17,973,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Swiss National Bank grew its holdings in shares of Coca-Cola Consolidated by 9.1% during the 1st quarter. Swiss National Bank now owns 10,765 shares of the company’s stock valued at $9,112,000 after purchasing an additional 900 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in Coca-Cola Consolidated by 13.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 4,982 shares of the company’s stock worth $4,217,000 after purchasing an additional 583 shares during the last quarter. Lazard Asset Management LLC boosted its position in Coca-Cola Consolidated by 3.0% during the first quarter. Lazard Asset Management LLC now owns 15,571 shares of the company’s stock valued at $13,179,000 after buying an additional 452 shares during the period. International Assets Investment Management LLC grew its stake in shares of Coca-Cola Consolidated by 74,390.2% during the third quarter. International Assets Investment Management LLC now owns 152,705 shares of the company’s stock valued at $201,021,000 after buying an additional 152,500 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in shares of Coca-Cola Consolidated by 88.0% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 112,156 shares of the company’s stock worth $121,689,000 after buying an additional 52,491 shares during the period. 48.24% of the stock is currently owned by institutional investors.

Coca-Cola Consolidated Trading Down 1.3 %

NASDAQ COKE opened at $1,215.21 on Friday. The firm has a market cap of $10.65 billion, a PE ratio of 21.15 and a beta of 0.85. Coca-Cola Consolidated, Inc. has a 1-year low of $686.75 and a 1-year high of $1,376.84. The stock has a 50-day moving average of $1,263.63 and a 200-day moving average of $1,151.05. The company has a current ratio of 2.47, a quick ratio of 2.15 and a debt-to-equity ratio of 1.39.

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

Coca-Cola Consolidated Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, October 25th were given a dividend of $2.50 per share. The ex-dividend date was Friday, October 25th. This represents a $10.00 annualized dividend and a yield of 0.82%. This is a boost from Coca-Cola Consolidated’s previous quarterly dividend of $0.25. Coca-Cola Consolidated’s dividend payout ratio is presently 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.