VELA Investment Management LLC Raises Stock Holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

VELA Investment Management LLC boosted its holdings in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 8.9% during the 4th quarter, Holdings Channel reports. The firm owned 3,956 shares of the company’s stock after buying an additional 324 shares during the period. Coca-Cola Consolidated comprises about 1.4% of VELA Investment Management LLC’s portfolio, making the stock its 10th biggest holding. VELA Investment Management LLC’s holdings in Coca-Cola Consolidated were worth $4,985,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. CIBC Asset Management Inc raised its stake in Coca-Cola Consolidated by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 247 shares of the company’s stock valued at $311,000 after purchasing an additional 12 shares during the period. Sunbelt Securities Inc. raised its stake in Coca-Cola Consolidated by 16.3% during the 3rd quarter. Sunbelt Securities Inc. now owns 93 shares of the company’s stock valued at $122,000 after purchasing an additional 13 shares during the period. KG&L Capital Management LLC raised its stake in Coca-Cola Consolidated by 2.0% during the 4th quarter. KG&L Capital Management LLC now owns 720 shares of the company’s stock valued at $907,000 after purchasing an additional 14 shares during the period. GAMMA Investing LLC raised its stake in Coca-Cola Consolidated by 16.9% during the 4th quarter. GAMMA Investing LLC now owns 104 shares of the company’s stock valued at $131,000 after purchasing an additional 15 shares during the period. Finally, Sanctuary Advisors LLC increased its stake in Coca-Cola Consolidated by 1.9% in the 4th quarter. Sanctuary Advisors LLC now owns 986 shares of the company’s stock worth $1,347,000 after acquiring an additional 18 shares during the last quarter. Institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Performance

NASDAQ:COKE opened at $1,398.23 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 2.47 and a quick ratio of 2.15. Coca-Cola Consolidated, Inc. has a 1 year low of $800.76 and a 1 year high of $1,460.92. The stock’s 50 day simple moving average is $1,328.90 and its two-hundred day simple moving average is $1,293.51. The company has a market cap of $12.25 billion, a price-to-earnings ratio of 20.02 and a beta of 0.89.

Coca-Cola Consolidated (NASDAQ:COKE) last released its quarterly earnings data on Thursday, February 20th. The company reported $18.11 earnings per share (EPS) for the quarter. Coca-Cola Consolidated had a return on equity of 49.88% and a net margin of 9.18%. The business had revenue of $1.75 billion for the quarter.

Coca-Cola Consolidated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 24th were paid a $2.50 dividend. This represents a $10.00 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date was Friday, January 24th. Coca-Cola Consolidated’s payout ratio is 14.32%.

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.