VELA Investment Management LLC Decreases Stock Position in Coca-Cola Consolidated, Inc. $COKE

VELA Investment Management LLC cut its holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 23.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 30,307 shares of the company’s stock after selling 9,428 shares during the period. VELA Investment Management LLC’s holdings in Coca-Cola Consolidated were worth $3,551,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Root Financial Partners LLC purchased a new position in shares of Coca-Cola Consolidated in the third quarter worth $26,000. Nomura Asset Management Co. Ltd. increased its holdings in Coca-Cola Consolidated by 900.0% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the company’s stock worth $26,000 after buying an additional 207 shares in the last quarter. Newbridge Financial Services Group Inc. increased its holdings in Coca-Cola Consolidated by 900.0% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company’s stock worth $26,000 after buying an additional 207 shares in the last quarter. Geneos Wealth Management Inc. raised its position in Coca-Cola Consolidated by 900.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 250 shares of the company’s stock worth $28,000 after buying an additional 225 shares during the last quarter. Finally, True Wealth Design LLC raised its position in Coca-Cola Consolidated by 25,200.0% in the 3rd quarter. True Wealth Design LLC now owns 253 shares of the company’s stock worth $30,000 after buying an additional 252 shares during the last quarter. Institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Trading Up 0.6%

Shares of NASDAQ:COKE opened at $154.00 on Thursday. The stock’s 50-day simple moving average is $159.01 and its two-hundred day simple moving average is $134.01. The stock has a market capitalization of $13.16 billion, a price-to-earnings ratio of 21.92 and a beta of 0.65. Coca-Cola Consolidated, Inc. has a 52-week low of $105.21 and a 52-week high of $169.49. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.79 and a current ratio of 2.04.

Coca-Cola Consolidated Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 6th. Shareholders of record on Friday, January 23rd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Friday, January 23rd. Coca-Cola Consolidated’s dividend payout ratio is currently 14.25%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Coca-Cola Consolidated has a consensus rating of “Buy”.

Coca-Cola Consolidated Profile

Founded in 1902 and headquartered in Charlotte, North Carolina, Coca-Cola Consolidated, Inc is the largest independent bottler of Coca-Cola products in the United States. The company manufactures, sells and distributes a broad portfolio of sparkling and still beverages under exclusive agreements with The Coca-Cola Company. Its brand lineup includes Coca-Cola, Diet Coke, Sprite and Fanta, as well as noncarbonated offerings such as Minute Maid juices, Gold Peak teas, Dasani water, Powerade sports drinks and vitaminwater.

Coca-Cola Consolidated’s operations span 14 states and the District of Columbia across the Southeastern, South Central and Mid-Atlantic regions.