Family Legacy Invests $6.58M in COKE
Family Legacy Inc., an institutional investor, purchased a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the second quarter. According to its most recent Form 13F filing with the Securities and Exchange Commission (SEC), Family Legacy Inc. acquired 80,960 shares of COKE stock valued at approximately $6,580,000. This makes up about 1.8% of Family Legacy Inc.'s holdings, ranking it as their 14th largest position.
The purchase price is a significant investment for the company, which owned only 0.12% of Coca-Cola Consolidated's shares at the end of the most recent reporting period. Other large investors have also increased their stakes in COKE, including Bessemer Group Inc., Beacon Pointe Advisors LLC, Wealthfront Advisers LLC, and UMB Bank n.a.
Coca-Cola Consolidated reported earnings per share (EPS) of $2.83 for the quarter, with revenue reaching $2.05 billion. The company has a negative return on equity of 1,041.59% and a net margin of 7.15%. Coca-Cola Consolidated also announced a quarterly dividend payment of $0.25 per share on August 7th.