Mill Creek Capital Advisors LLC Invests $219,000 in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Mill Creek Capital Advisors LLC acquired a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 202 shares of the company’s stock, valued at approximately $219,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Coca-Cola Consolidated by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 608,875 shares of the company’s stock valued at $515,358,000 after acquiring an additional 30,443 shares during the period. Vaughan Nelson Investment Management L.P. raised its holdings in Coca-Cola Consolidated by 88.0% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 112,156 shares of the company’s stock worth $121,689,000 after purchasing an additional 52,491 shares during the last quarter. Hennessy Advisors Inc. boosted its position in Coca-Cola Consolidated by 18.0% during the second quarter. Hennessy Advisors Inc. now owns 43,956 shares of the company’s stock worth $47,692,000 after purchasing an additional 6,700 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in Coca-Cola Consolidated by 1,271.0% in the second quarter. Los Angeles Capital Management LLC now owns 32,067 shares of the company’s stock valued at $34,793,000 after purchasing an additional 29,728 shares during the last quarter. Finally, HighPoint Advisor Group LLC purchased a new position in shares of Coca-Cola Consolidated in the fourth quarter valued at $16,838,000. Institutional investors and hedge funds own 48.24% of the company’s stock.

Coca-Cola Consolidated Price Performance

Coca-Cola Consolidated stock opened at $1,293.99 on Wednesday. The firm has a market capitalization of $12.13 billion, a PE ratio of 26.65 and a beta of 0.82. Coca-Cola Consolidated, Inc. has a 52 week low of $614.22 and a 52 week high of $1,376.84. The firm’s 50-day simple moving average is $1,252.38 and its 200 day simple moving average is $1,046.93. The company has a quick ratio of 1.75, a current ratio of 1.97 and a debt-to-equity ratio of 1.50.

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

Coca-Cola Consolidated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.15%. The ex-dividend date was Friday, July 26th. Coca-Cola Consolidated’s payout ratio is 20.59%.

Insider Transactions at Coca-Cola Consolidated

In related news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola Consolidated 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 completion of the sale, the insider now owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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.