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

Millennium Management LLC boosted its stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 1,308.6% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 172,788 shares of the company’s stock after buying an additional 160,521 shares during the quarter. Millennium Management LLC’s holdings in Coca-Cola Consolidated were worth $187,475,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of COKE. AQR Capital Management LLC lifted its holdings in Coca-Cola Consolidated by 18.3% in the 2nd quarter. AQR Capital Management LLC now owns 75,035 shares of the company’s stock valued at $80,363,000 after purchasing an additional 11,587 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Coca-Cola Consolidated during the second quarter valued at approximately $588,000. Cubist Systematic Strategies LLC acquired a new stake in Coca-Cola Consolidated during the second quarter worth approximately $996,000. Point72 DIFC Ltd acquired a new stake in Coca-Cola Consolidated during the second quarter worth approximately $918,000. Finally, Mill Creek Capital Advisors LLC purchased a new stake in Coca-Cola Consolidated in the 2nd quarter worth approximately $219,000. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Insider Buying and Selling

In other Coca-Cola Consolidated news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola Consolidated stock in a transaction on Friday, July 5th. The shares were sold at an average price of $925.00, for a total value of $553,722,575.00. Following the transaction, the insider now owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Coca-Cola Consolidated Trading Up 0.7 %

Shares of Coca-Cola Consolidated stock opened at $1,295.96 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 business’s fifty day moving average is $1,265.10 and its two-hundred day moving average is $1,053.58. The company has a quick ratio of 1.75, a current ratio of 1.97 and a debt-to-equity ratio of 1.50. The firm has a market cap of $12.15 billion, a PE ratio of 26.69 and a beta of 0.82.

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

Coca-Cola Consolidated Increases Dividend

The business also recently announced a dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 25th will be issued a $2.50 dividend. This is an increase from Coca-Cola Consolidated’s previous dividend of $0.25. The ex-dividend date of this dividend is Friday, October 25th. Coca-Cola Consolidated’s payout ratio is presently 20.59%.

Coca-Cola Consolidated Company 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.