Thoroughbred Financial Services LLC Takes Position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Thoroughbred Financial Services LLC bought a new position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter, Holdings Channel.com reports. The institutional investor bought 280 shares of the company’s stock, valued at approximately $303,000.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Coca-Cola Consolidated in the 4th quarter valued at $188,138,000. Vaughan Nelson Investment Management L.P. grew its position in Coca-Cola Consolidated by 88.0% during the 2nd 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 period. Hennessy Advisors Inc. purchased a new position in shares of Coca-Cola Consolidated during the 4th quarter valued at about $30,318,000. Vanguard Group Inc. lifted its holdings in shares of Coca-Cola Consolidated by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 608,875 shares of the company’s stock valued at $515,358,000 after buying an additional 30,443 shares during the period. Finally, Los Angeles Capital Management LLC lifted its holdings 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 buying an additional 29,728 shares during the period. 48.24% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Stock Performance

Shares of NASDAQ COKE opened at $1,261.36 on Wednesday. Coca-Cola Consolidated, Inc. has a 1 year low of $614.22 and a 1 year 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’s fifty day moving average price is $1,232.20 and its 200 day moving average price is $1,030.82. The company has a market capitalization of $11.82 billion, a PE ratio of 25.98 and a beta of 0.82.

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

Coca-Cola Consolidated Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.16%. The ex-dividend date was Friday, July 26th. Coca-Cola Consolidated’s payout ratio is 20.59%.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola Consolidated stock in a transaction dated 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 sale, the insider now owns 1,883,546 shares in the company, valued at $1,742,280,050. The sale was disclosed in a document filed with the SEC, which can be accessed through 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.