Assetmark Inc. Sells 10,185 Shares of Coca-Cola Consolidated, Inc. $COKE

Assetmark Inc. reduced its stake in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 47.9% in the first quarter, HoldingsChannel reports. The institutional investor owned 11,059 shares of the company’s stock after selling 10,185 shares during the quarter. Assetmark Inc.’s holdings in Coca-Cola Consolidated were worth $2,120,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quarry LP purchased a new stake in shares of Coca-Cola Consolidated during the third quarter valued at approximately $25,000. Advisory Services Network LLC purchased a new position in Coca-Cola Consolidated in the third quarter worth $25,000. Newbridge Financial Services Group Inc. grew its stake in Coca-Cola Consolidated by 900.0% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 230 shares of the company’s stock valued at $26,000 after purchasing an additional 207 shares during the period. Geneos Wealth Management Inc. grew its stake in Coca-Cola Consolidated by 900.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 250 shares of the company’s stock valued at $28,000 after purchasing an additional 225 shares during the period. Finally, Rakuten Securities Inc. increased its position in shares of Coca-Cola Consolidated by 1,646.7% during the 2nd quarter. Rakuten Securities Inc. now owns 262 shares of the company’s stock valued at $29,000 after purchasing an additional 247 shares during the last quarter. 48.24% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Consolidated Stock Performance

COKE stock opened at $178.44 on Friday. The company has a market capitalization of $11.88 billion, a price-to-earnings ratio of 24.41 and a beta of 0.54. Coca-Cola Consolidated, Inc. has a fifty-two week low of $110.40 and a fifty-two week high of $219.65. The stock has a fifty day moving average of $180.74 and a 200-day moving average of $180.53.

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

Coca-Cola Consolidated Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, July 24th. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. Coca-Cola Consolidated’s payout ratio is presently 13.68%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Coca-Cola Consolidated in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company 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.