Coca-Cola (NYSE:KO) Consolidated, Inc. (NASDAQ:COKE) has reported a recent transaction involving the company's Vice Chair, Everett Morgan Harrison, who purchased shares valued at a total of $1,712. The transaction, which took place on December 18, 2023, involved the acquisition of 2 shares at a price of $856.00 each.
This buy transaction is part of a series of transactions reported by Harrison. Additionally, on January 18 and 19, 2024, there were two transactions coded as gifts, also known as "L(1)" transactions, where a total of 2 shares were acquired at prices ranging from $907.0 to $908.95, amounting to a total value of $1,815.
It should be noted that these shares are indirectly held by Harrison's spouse as custodian for their child under the Uniform Transfers to Minors Act. Harrison has disclaimed beneficial ownership of these securities except to the extent of their pecuniary interest therein.
The reported transactions provide insights into the trading activities of Coca-Cola Consolidated's executives and may be of interest to investors monitoring insider activity within the company.
InvestingPro Insights
Amidst the recent insider trading activity, Coca-Cola Consolidated, Inc. (NASDAQ:COKE) presents an intriguing financial profile according to the latest data from InvestingPro. The company's market capitalization stands at a robust $8.78 billion, reflecting its substantial presence in the beverage industry. Investors closely monitoring the company's performance will note that COKE's Price/Earnings (P/E) ratio is currently at 19.35, suggesting a valuation that is high relative to near-term earnings growth. However, for those looking at the bigger picture, the adjusted P/E ratio for the last twelve months as of Q1 2024 is somewhat lower at 14.29.
One of the InvestingPro Tips highlights that COKE has been consistent in maintaining dividend payments, with a history stretching back 53 years. This could be a signal of financial stability and a commitment to shareholder returns, a factor that income-focused investors might find reassuring. The company's dividend yield as of the latest data point is 1.98%, with a notable dividend growth in the last twelve months of 1750.0%. Additionally, COKE's strong return over the last month, at 14.95%, and the impressive 33.93% price total return over the last six months, underscore a positive momentum in the stock's performance.
For those interested in a deeper dive into Coca-Cola Consolidated's financial health, InvestingPro offers additional insights. There are currently 10 more InvestingPro Tips available, which could provide further clarity on COKE's debt levels, asset liquidity, and analysts' profitability predictions for the year. To explore these insights and develop a well-rounded investment thesis, visit https://www.investing.com/pro/COKE and consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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