Coca-Cola Consolidated, Inc. $COKE Shares Sold by L2 Asset Management LLC

L2 Asset Management LLC reduced its stake in shares of Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 18.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,479 shares of the company’s stock after selling 5,967 shares during the quarter. L2 Asset Management LLC’s holdings in Coca-Cola Consolidated were worth $4,059,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Quarry LP purchased a new position in Coca-Cola Consolidated in the third quarter valued at about $25,000. Advisory Services Network LLC purchased a new position in Coca-Cola Consolidated in the third quarter valued at about $25,000. Smartleaf Asset Management LLC increased its holdings in Coca-Cola Consolidated by 175.0% in the third quarter. Smartleaf Asset Management LLC now owns 220 shares of the company’s stock valued at $26,000 after buying an additional 140 shares in the last quarter. Newbridge Financial Services Group Inc. increased its holdings in Coca-Cola Consolidated by 900.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company’s stock valued at $26,000 after buying an additional 207 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in Coca-Cola Consolidated by 900.0% in the second quarter. Geneos Wealth Management Inc. now owns 250 shares of the company’s stock valued at $28,000 after buying an additional 225 shares in the last quarter. 48.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Friday, March 27th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy”.

Coca-Cola Consolidated Trading Down 1.3%

Shares of Coca-Cola Consolidated stock opened at $185.43 on Tuesday. The company has a 50-day moving average of $185.32 and a two-hundred day moving average of $176.39. The stock has a market cap of $12.34 billion, a PE ratio of 25.37 and a beta of 0.55. Coca-Cola Consolidated, Inc. has a 12-month low of $105.44 and a 12-month high of $219.65. The company has a current ratio of 1.23, a quick ratio of 0.91 and a debt-to-equity ratio of 0.88.

Coca-Cola Consolidated (NASDAQ:COKE) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.79 EPS for the quarter. The business had revenue of $1.71 billion for the quarter. Coca-Cola Consolidated had a net margin of 7.72% and a return on equity of 138.44%.

Coca-Cola Consolidated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Friday, April 24th were given a $0.25 dividend. The ex-dividend date was Friday, April 24th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio is currently 13.68%.

Coca-Cola Consolidated Profile

Founded in 1902 and headquartered in Charlotte, North Carolina, Coca-Cola Consolidated, Inc is the largest independent bottler of Coca-Cola products in the United States. The company manufactures, sells and distributes a broad portfolio of sparkling and still beverages under exclusive agreements with The Coca-Cola Company. Its brand lineup includes Coca-Cola, Diet Coke, Sprite and Fanta, as well as noncarbonated offerings such as Minute Maid juices, Gold Peak teas, Dasani water, Powerade sports drinks and vitaminwater.

Coca-Cola Consolidated’s operations span 14 states and the District of Columbia across the Southeastern, South Central and Mid-Atlantic regions.