Cubist Systematic Strategies LLC Acquires Shares of 918 Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Cubist Systematic Strategies LLC acquired a new stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 918 shares of the company’s stock, valued at approximately $996,000.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Coca-Cola Consolidated by 5.3% during the first quarter. Vanguard Group Inc. now owns 608,875 shares of the company’s stock worth $515,358,000 after acquiring an additional 30,443 shares during the period. Vaughan Nelson Investment Management L.P. increased its holdings in shares of 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 period. Hennessy Advisors Inc. increased its holdings in shares of 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 during the period. Los Angeles Capital Management LLC raised its position in shares of 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 buying an additional 29,728 shares in the last quarter. Finally, HighPoint Advisor Group LLC bought a new stake in shares of Coca-Cola Consolidated in the fourth quarter valued at approximately $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 $1,295.02 on Thursday. The firm has a market cap of $12.14 billion, a PE ratio of 26.67 and a beta of 0.82. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.97 and a quick ratio of 1.75. The stock’s fifty day moving average price is $1,273.45 and its two-hundred day moving average price is $1,063.42. Coca-Cola Consolidated, Inc. has a one year low of $614.22 and a one year high of $1,376.84.

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

Coca-Cola Consolidated Increases Dividend

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

Insider Transactions at Coca-Cola Consolidated

In other Coca-Cola Consolidated news, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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.