Caprock Group LLC Makes New Investment in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Caprock Group LLC purchased a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 306 shares of the company’s stock, valued at approximately $332,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Los Angeles Capital Management LLC increased its position in shares of Coca-Cola Consolidated by 1,271.0% in the 2nd quarter. Los Angeles Capital Management LLC now owns 32,067 shares of the company’s stock valued at $34,793,000 after acquiring an additional 29,728 shares during the period. Arizona State Retirement System increased its holdings in shares of Coca-Cola Consolidated by 1.9% in the second quarter. Arizona State Retirement System now owns 1,523 shares of the company’s stock valued at $1,652,000 after purchasing an additional 28 shares during the period. VELA Investment Management LLC purchased a new position in shares of Coca-Cola Consolidated in the second quarter worth about $4,435,000. CIBC Asset Management Inc acquired a new stake in shares of Coca-Cola Consolidated during the second quarter worth about $247,000. Finally, Natixis Advisors LLC increased its holdings in Coca-Cola Consolidated by 21.2% in the 2nd quarter. Natixis Advisors LLC now owns 15,538 shares of the company’s stock worth $16,858,000 after buying an additional 2,719 shares during the period. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Coca-Cola Consolidated

In other Coca-Cola Consolidated news, major shareholder Cola Co Coca sold 598,619 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the transaction, the insider now directly owns 1,883,546 shares in the company, valued at $1,742,280,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Coca-Cola Consolidated Price Performance

Shares of COKE opened at $1,271.09 on Friday. Coca-Cola Consolidated, Inc. has a fifty-two week low of $614.22 and a fifty-two week high of $1,376.84. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.75 and a current ratio of 1.97. The company has a market capitalization of $11.92 billion, a P/E ratio of 26.18 and a beta of 0.82. The business’s 50-day moving average is $1,216.72 and its two-hundred day moving average is $1,017.14.

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

Coca-Cola Consolidated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were issued a $0.50 dividend. 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%.

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.