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

Marathon Asset Management Ltd lowered its holdings in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE - Free Report) by 24.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,774 shares of the company's stock after selling 2,771 shares during the quarter. Marathon Asset Management Ltd owned approximately 0.10% of Coca-Cola Consolidated worth $11,845,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Coca-Cola Consolidated by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 578,916 shares of the company's stock worth $729,428,000 after purchasing an additional 7,106 shares in the last quarter. Norges Bank purchased a new stake in shares of Coca-Cola Consolidated during the fourth quarter worth about $284,418,000. GAMMA Investing LLC grew its position in shares of Coca-Cola Consolidated by 175,140.4% during the first quarter. GAMMA Investing LLC now owns 182,250 shares of the company's stock worth $246,038,000 after purchasing an additional 182,146 shares in the last quarter. FMR LLC grew its position in shares of Coca-Cola Consolidated by 1.6% during the fourth quarter. FMR LLC now owns 131,508 shares of the company's stock worth $165,698,000 after purchasing an additional 2,021 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Coca-Cola Consolidated by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 128,804 shares of the company's stock worth $162,332,000 after purchasing an additional 4,348 shares in the last quarter. Hedge funds and other institutional investors own 48.24% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut Coca-Cola Consolidated from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 10th.

Coca-Cola Consolidated Stock Performance

NASDAQ:COKE opened at $111.45 on Friday. The company has a current ratio of 2.03, a quick ratio of 1.76 and a debt-to-equity ratio of 0.96. Coca-Cola Consolidated, Inc. has a 12-month low of $105.21 and a 12-month high of $146.09. The stock has a 50-day moving average price of $136.86 and a 200 day moving average price of $134.38. The stock has a market capitalization of $9.72 billion, a P/E ratio of 17.40 and a beta of 0.81.

Coca-Cola Consolidated (NASDAQ:COKE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $1.56 EPS for the quarter. Coca-Cola Consolidated had a return on equity of 48.35% and a net margin of 8.29%. The company had revenue of $1.58 billion during the quarter.

Coca-Cola Consolidated Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 25th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date was Friday, April 25th. Coca-Cola Consolidated's payout ratio is presently 15.60%.

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.

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