Coca-Cola Consolidated, Inc. (NASDAQ:COKE) Stake Lessened by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 3.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,132 shares of the company’s stock after selling 42 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Coca-Cola Consolidated were worth $1,228,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in COKE. Vanguard Group Inc. increased its position in shares of Coca-Cola Consolidated by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 608,875 shares of the company’s stock valued at $515,358,000 after purchasing an additional 30,443 shares during the period. Vaughan Nelson Investment Management L.P. raised its position in 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 acquiring an additional 52,491 shares in the last quarter. Hennessy Advisors Inc. lifted its holdings in Coca-Cola Consolidated by 18.0% in the 2nd quarter. Hennessy Advisors Inc. now owns 43,956 shares of the company’s stock valued at $47,692,000 after acquiring an additional 6,700 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in shares of Coca-Cola Consolidated by 1,271.0% during the 2nd quarter. Los Angeles Capital Management LLC now owns 32,067 shares of the company’s stock valued at $34,793,000 after purchasing an additional 29,728 shares in the last quarter. Finally, HighPoint Advisor Group LLC bought a new position in shares of Coca-Cola Consolidated during the 4th quarter valued at about $16,838,000. Institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Stock Up 1.5 %

NASDAQ COKE opened at $1,292.09 on Friday. Coca-Cola Consolidated, Inc. has a 12 month low of $614.22 and a 12 month high of $1,376.84. The company has a market capitalization of $12.11 billion, a P/E ratio of 26.61 and a beta of 0.82. The company’s 50 day simple moving average is $1,283.86 and its 200 day simple moving average is $1,069.67. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.97 and a quick ratio of 1.75.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $20.71 earnings per share (EPS) for the quarter. Coca-Cola Consolidated had a return on equity of 44.83% and a net margin of 7.52%. The company 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. Stockholders of record on Friday, October 25th will be issued a dividend of $2.50 per share. 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 dividend payout ratio is currently 20.59%.

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.