Coca-Cola Consolidated, Inc. (NASDAQ:COKE) Shares Sold by VELA Investment Management LLC

VELA Investment Management LLC lowered its holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 11.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,632 shares of the company's stock after selling 456 shares during the period. Coca-Cola Consolidated makes up 1.5% of VELA Investment Management LLC's holdings, making the stock its 13th biggest holding. VELA Investment Management LLC's holdings in Coca-Cola Consolidated were worth $4,781,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew 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 acquiring an additional 30,443 shares in the last quarter. Millennium Management LLC lifted its position in shares of 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 buying an additional 160,521 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Coca-Cola Consolidated by 74,390.2% during the 3rd quarter. International Assets Investment Management LLC now owns 152,705 shares of the company's stock worth $201,021,000 after buying an additional 152,500 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in shares of Coca-Cola Consolidated by 88.0% during the 2nd 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 last quarter. Finally, Wallace Capital Management Inc. purchased a new stake in shares of Coca-Cola Consolidated during the 2nd quarter worth approximately $90,404,000. Institutional investors and hedge funds own 48.24% of the company's stock.

Coca-Cola Consolidated Stock Up 0.9 %

Shares of NASDAQ:COKE traded up $10.12 during trading on Friday, hitting $1,134.38. 57,760 shares of the company were exchanged, compared to its average volume of 52,375. The stock has a market capitalization of $9.94 billion, a P/E ratio of 19.74 and a beta of 0.82. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.97 and a quick ratio of 1.75. Coca-Cola Consolidated, Inc. has a 12-month low of $628.00 and a 12-month high of $1,376.84. The firm's 50 day moving average price is $1,285.22 and its 200-day moving average price is $1,127.68.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $18.81 earnings per share for the quarter. The business had revenue of $1.77 billion during the quarter. Coca-Cola Consolidated had a net margin of 7.81% and a return on equity of 45.90%.

Coca-Cola Consolidated Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 25th will be given a dividend of $2.50 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $10.00 dividend on an annualized basis and a yield of 0.88%. This is an increase 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 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.