Marathon Asset Management Ltd Reduces Holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE)

Marathon Asset Management Ltd lowered its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 10.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 16,296 shares of the company’s stock after selling 1,884 shares during the quarter. Marathon Asset Management Ltd owned about 0.17% of Coca-Cola Consolidated worth $21,451,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its position in Coca-Cola Consolidated by 27.7% during the first quarter. BNP Paribas Financial Markets now owns 6,366 shares of the company’s stock worth $5,388,000 after purchasing an additional 1,380 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Coca-Cola Consolidated during the 1st quarter valued at $587,000. Swiss National Bank lifted its holdings in shares of Coca-Cola Consolidated by 9.1% in the first quarter. Swiss National Bank now owns 10,765 shares of the company’s stock worth $9,112,000 after buying an additional 900 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its stake in Coca-Cola Consolidated by 13.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,982 shares of the company’s stock worth $4,217,000 after purchasing an additional 583 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its position in shares of Coca-Cola Consolidated by 3.0% during the 1st quarter. Lazard Asset Management LLC now owns 15,571 shares of the company’s stock valued at $13,179,000 after acquiring an additional 452 shares during the last quarter. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Price Performance

COKE stock opened at $1,305.59 on Friday. The firm has a market cap of $12.24 billion, a P/E ratio of 26.89 and a beta of 0.82. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.75 and a current ratio of 1.97. The firm’s fifty day moving average is $1,297.51 and its 200 day moving average is $1,096.74. Coca-Cola Consolidated, Inc. has a 52 week low of $621.18 and a 52 week high of $1,376.84.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $20.71 earnings per share (EPS) for the quarter. The company had revenue of $1.80 billion for the quarter. Coca-Cola Consolidated had a net margin of 7.52% and a return on equity of 44.83%.

Coca-Cola Consolidated Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 25th will be issued a $2.50 dividend. This is a positive change from Coca-Cola Consolidated’s previous dividend of $0.25. The ex-dividend date is Friday, October 25th. Coca-Cola Consolidated’s dividend payout ratio (DPR) is presently 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.