VELA Investment Management LLC Cuts Stock Position in Coca-Cola Consolidated, Inc. $COKE

VELA Investment Management LLC trimmed its position in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 23.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,307 shares of the company’s stock after selling 9,428 shares during the period. VELA Investment Management LLC’s holdings in Coca-Cola Consolidated were worth $3,551,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of COKE. Resona Asset Management Co. Ltd. increased its position in shares of Coca-Cola Consolidated by 900.0% during the second quarter. Resona Asset Management Co. Ltd. now owns 4,550 shares of the company’s stock valued at $508,000 after buying an additional 4,095 shares during the period. CWM LLC grew its holdings in shares of Coca-Cola Consolidated by 209.4% during the 3rd quarter. CWM LLC now owns 13,378 shares of the company’s stock worth $1,567,000 after acquiring an additional 9,054 shares during the period. Maryland State Retirement & Pension System raised its position in shares of Coca-Cola Consolidated by 900.0% in the 2nd quarter. Maryland State Retirement & Pension System now owns 2,820 shares of the company’s stock worth $315,000 after acquiring an additional 2,538 shares in the last quarter. Hsbc Holdings PLC lifted its stake in shares of Coca-Cola Consolidated by 663.7% in the 2nd quarter. Hsbc Holdings PLC now owns 24,889 shares of the company’s stock valued at $2,778,000 after purchasing an additional 21,630 shares during the period. Finally, Norges Bank bought a new stake in shares of Coca-Cola Consolidated during the second quarter valued at approximately $280,669,000. Institutional investors own 48.24% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Coca-Cola Consolidated in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy”.

Coca-Cola Consolidated Trading Up 0.6%

Coca-Cola Consolidated stock opened at $154.00 on Thursday. Coca-Cola Consolidated, Inc. has a 12 month low of $105.21 and a 12 month high of $169.49. The company has a market capitalization of $13.16 billion, a price-to-earnings ratio of 21.92 and a beta of 0.65. The business’s fifty day simple moving average is $159.01 and its two-hundred day simple moving average is $134.01. The company has a current ratio of 2.04, a quick ratio of 1.79 and a debt-to-equity ratio of 0.88.

Coca-Cola Consolidated Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 6th. Investors of record on Friday, January 23rd will be paid a $0.25 dividend. The ex-dividend date is Friday, January 23rd. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. Coca-Cola Consolidated’s payout ratio is presently 14.25%.

About Coca-Cola Consolidated

Founded in 1902 and headquartered in Charlotte, North Carolina, Coca-Cola Consolidated, Inc is the largest independent bottler of Coca-Cola products in the United States. The company manufactures, sells and distributes a broad portfolio of sparkling and still beverages under exclusive agreements with The Coca-Cola Company. Its brand lineup includes Coca-Cola, Diet Coke, Sprite and Fanta, as well as noncarbonated offerings such as Minute Maid juices, Gold Peak teas, Dasani water, Powerade sports drinks and vitaminwater.

Coca-Cola Consolidated’s operations span 14 states and the District of Columbia across the Southeastern, South Central and Mid-Atlantic regions.