Forum Financial Management LP Purchases Shares of 173 Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Forum Financial Management LP acquired a new stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 173 shares of the company’s stock, valued at approximately $228,000.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Coca-Cola Consolidated by 5.3% during the 1st 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 last quarter. Millennium Management LLC grew its holdings in shares of Coca-Cola Consolidated by 1,308.6% in the second quarter. Millennium Management LLC now owns 172,788 shares of the company’s stock worth $187,475,000 after purchasing an additional 160,521 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Coca-Cola Consolidated by 74,390.2% in the third quarter. International Assets Investment Management LLC now owns 152,705 shares of the company’s stock worth $201,021,000 after purchasing an additional 152,500 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in shares of Coca-Cola Consolidated by 88.0% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 112,156 shares of the company’s stock worth $121,689,000 after buying an additional 52,491 shares during the period. Finally, Wallace Capital Management Inc. bought a new stake in Coca-Cola Consolidated during the 2nd quarter valued at $90,404,000. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Price Performance

Shares of Coca-Cola Consolidated stock opened at $1,179.62 on Wednesday. The company’s fifty day simple moving average is $1,278.20 and its two-hundred day simple moving average is $1,137.09. Coca-Cola Consolidated, Inc. has a 12-month low of $653.35 and a 12-month high of $1,376.84. The firm has a market cap of $10.33 billion, a PE ratio of 20.53 and a beta of 0.85. The company has a quick ratio of 2.15, a current ratio of 2.47 and a debt-to-equity ratio of 1.39.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its earnings results on Wednesday, October 30th. The company reported $18.81 earnings per share (EPS) for the quarter. Coca-Cola Consolidated had a return on equity of 46.94% and a net margin of 7.81%. The company had revenue of $1.77 billion for the quarter.

Coca-Cola Consolidated Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 25th will be paid a dividend of $2.50 per share. The ex-dividend date is Friday, October 25th. This is a boost from Coca-Cola Consolidated’s previous quarterly dividend of $0.25. This represents a $10.00 annualized dividend and a dividend yield of 0.85%. Coca-Cola Consolidated’s payout ratio is 17.40%.

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.