VELA Investment Management LLC Sells 456 Shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

VELA Investment Management LLC cut its holdings in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 11.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,632 shares of the company’s stock after selling 456 shares during the period. Coca-Cola Consolidated comprises approximately 1.5% of VELA Investment Management LLC’s holdings, making the stock its 13th largest holding. VELA Investment Management LLC’s holdings in Coca-Cola Consolidated were worth $4,781,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Signaturefd LLC boosted its position in Coca-Cola Consolidated by 15.3% in the 2nd quarter. Signaturefd LLC now owns 68 shares of the company’s stock valued at $74,000 after buying an additional 9 shares during the last quarter. Inspire Investing LLC boosted its position in shares of Coca-Cola Consolidated by 3.1% in the 1st quarter. Inspire Investing LLC now owns 426 shares of the company’s stock worth $361,000 after purchasing an additional 13 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Coca-Cola Consolidated by 41.9% in the 3rd quarter. UMB Bank n.a. now owns 44 shares of the company’s stock worth $58,000 after purchasing an additional 13 shares during the last quarter. Cetera Advisors LLC boosted its position in shares of Coca-Cola Consolidated by 3.4% in the 1st quarter. Cetera Advisors LLC now owns 420 shares of the company’s stock worth $356,000 after purchasing an additional 14 shares during the last quarter. Finally, CWM LLC boosted its position in shares of Coca-Cola Consolidated by 17.4% in the 2nd quarter. CWM LLC now owns 101 shares of the company’s stock worth $110,000 after purchasing an additional 15 shares during the last quarter. 48.24% of the stock is currently owned by institutional investors.

Coca-Cola Consolidated Trading Up 0.9 %

Shares of NASDAQ:COKE traded up $10.12 during midday trading on Friday, hitting $1,134.38. The company had a trading volume of 57,760 shares, compared to its average volume of 52,375. Coca-Cola Consolidated, Inc. has a 12 month low of $628.00 and a 12 month high of $1,376.84. 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 stock has a market cap of $9.94 billion, a price-to-earnings ratio of 19.74 and a beta of 0.82. The firm has a fifty day simple moving average of $1,285.22 and a 200 day simple moving average of $1,127.68.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its earnings results on Wednesday, October 30th. The company reported $18.81 earnings per share for the quarter. The firm had revenue of $1.77 billion for the quarter. Coca-Cola Consolidated had a return on equity of 45.90% and a net margin of 7.81%.

Coca-Cola Consolidated Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 25th will be issued a $2.50 dividend. This represents a $10.00 dividend on an annualized basis and a dividend yield of 0.88%. This is a positive change from Coca-Cola Consolidated’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, October 25th. Coca-Cola Consolidated’s payout ratio is 17.40%.

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.