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

L2 Asset Management LLC cut its holdings in 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 (SEC). The fund 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 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Torren Management LLC acquired a new stake in shares of Coca-Cola Consolidated in the fourth quarter valued at approximately $29,000. Morse Asset Management Inc acquired a new stake in Coca-Cola Consolidated during the fourth quarter worth approximately $31,000. Quarry LP acquired a new stake in Coca-Cola Consolidated during the third quarter worth approximately $25,000. Advisory Services Network LLC acquired a new stake in Coca-Cola Consolidated during the third quarter worth approximately $25,000. Finally, Smartleaf Asset Management LLC boosted its position in Coca-Cola Consolidated by 175.0% during the third quarter. Smartleaf Asset Management LLC now owns 220 shares of the company’s stock worth $26,000 after acquiring an additional 140 shares during the last quarter. 48.24% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Consolidated Stock Down 1.3%

Shares of NASDAQ COKE opened at $185.43 on Tuesday. Coca-Cola Consolidated, Inc. has a 1 year low of $105.44 and a 1 year high of $219.65. The firm’s 50 day moving average price is $185.32 and its 200 day moving average price is $176.39. The firm has a market cap of $12.34 billion, a P/E ratio of 25.37 and a beta of 0.55. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.91 and a current ratio of 1.23.

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

Coca-Cola Consolidated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Friday, April 24th were given a dividend of $0.25 per share. The ex-dividend date was Friday, April 24th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is 13.68%.

Analysts Set New Price Targets

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

About Coca-Cola Consolidated

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.