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

Marathon Asset Management Ltd decreased its position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 10.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,296 shares of the company's stock after selling 1,884 shares during the period. Marathon Asset Management Ltd owned approximately 0.17% of Coca-Cola Consolidated worth $21,451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in COKE. Millennium Management LLC raised its stake in Coca-Cola Consolidated by 1,308.6% in the 2nd quarter. Millennium Management LLC now owns 172,788 shares of the company's stock worth $187,475,000 after acquiring an additional 160,521 shares during the last quarter. Wallace Capital Management Inc. purchased a new position in shares of Coca-Cola Consolidated during the 2nd quarter valued at about $90,404,000. Vaughan Nelson Investment Management L.P. raised its stake in shares of Coca-Cola Consolidated by 88.0% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 112,156 shares of the company's stock valued at $121,689,000 after buying an additional 52,491 shares during the last quarter. Vanguard Group Inc. raised its stake 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 buying an additional 30,443 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its stake 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 buying an additional 29,728 shares during the last quarter. Hedge funds and other institutional investors own 48.24% of the company's stock.

Coca-Cola Consolidated Stock Performance

Shares of NASDAQ COKE traded down $18.11 during trading on Friday, reaching $1,287.48. 35,306 shares of the company traded hands, compared to its average volume of 52,826. The firm's fifty day simple moving average is $1,297.51 and its 200 day simple moving average is $1,096.74. The stock has a market cap of $12.07 billion, a P/E ratio of 26.51 and a beta of 0.82. Coca-Cola Consolidated, Inc. has a 12-month low of $621.18 and a 12-month high of $1,376.84. The company has a current ratio of 1.97, a quick ratio of 1.75 and a debt-to-equity ratio of 1.50.

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

Coca-Cola Consolidated Increases Dividend

The firm also recently declared a dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 25th will be paid a $2.50 dividend. The ex-dividend date of this dividend is Friday, October 25th. This is a positive change from Coca-Cola Consolidated's previous dividend of $0.25. Coca-Cola Consolidated's 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.