Thoroughbred Financial Services LLC Takes Position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Thoroughbred Financial Services LLC bought a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 280 shares of the company’s stock, valued at approximately $303,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank bought a new position in Coca-Cola Consolidated in the fourth quarter worth approximately $188,138,000. Vaughan Nelson Investment Management L.P. grew 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 in the last quarter. Hennessy Advisors Inc. purchased a new position in shares of Coca-Cola Consolidated during the fourth quarter valued at $30,318,000. Vanguard Group Inc. lifted its stake in Coca-Cola Consolidated by 5.3% in the first 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 during the period. Finally, Los Angeles Capital Management LLC grew its holdings in Coca-Cola Consolidated by 1,271.0% during the 2nd quarter. Los Angeles Capital Management LLC now owns 32,067 shares of the company’s stock worth $34,793,000 after acquiring an additional 29,728 shares in the last quarter. 48.24% of the stock is currently owned by institutional investors.

Coca-Cola Consolidated Trading Down 1.5 %

COKE opened at $1,261.36 on Wednesday. The company has a current ratio of 1.97, a quick ratio of 1.75 and a debt-to-equity ratio of 1.50. The firm has a market cap of $11.82 billion, a price-to-earnings ratio of 25.98 and a beta of 0.82. Coca-Cola Consolidated, Inc. has a 12 month low of $614.22 and a 12 month high of $1,376.84. The stock has a fifty day moving average price of $1,232.20 and a 200-day moving average price of $1,030.82.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its earnings results on Wednesday, July 31st. The company reported $20.71 EPS for the quarter. Coca-Cola Consolidated had a net margin of 7.52% and a return on equity of 44.83%. The business had revenue of $1.80 billion during the quarter.

Coca-Cola Consolidated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $2.00 dividend on an annualized basis and a yield of 0.16%. Coca-Cola Consolidated’s payout ratio is 20.59%.

Insider Buying and Selling at Coca-Cola Consolidated

In related news, major shareholder Cola Co Coca sold 598,619 shares of the company’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the transaction, the insider now directly owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Wall Street Analyst Weigh In

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

About Coca-Cola Consolidated

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.