Coca-Cola Consolidated (NASDAQ:COKE) Shares Down 19.7% – Should You Sell?

Coca-Cola Consolidated, Inc. (NASDAQ:COKE)’s stock price fell 19.7% during trading on Thursday . The company traded as low as $173.02 and last traded at $169.0120. 310,222 shares traded hands during mid-day trading, a decline of 34% from the average session volume of 467,946 shares. The stock had previously closed at $210.52.

Analysts Set New Price Targets

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

Coca-Cola Consolidated Stock Performance

The stock has a 50-day simple moving average of $199.13 and a 200-day simple moving average of $169.88. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.26 and a quick ratio of 0.97. The stock has a market cap of $11.82 billion, a PE ratio of 26.05 and a beta of 0.61.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $1.79 earnings per share (EPS) for the quarter. Coca-Cola Consolidated had a return on equity of 66.42% and a net margin of 7.89%.The firm had revenue of $1.71 billion during the quarter.

Coca-Cola Consolidated Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Friday, April 24th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Friday, April 24th. Coca-Cola Consolidated’s payout ratio is 14.66%.

Institutional Investors Weigh In On Coca-Cola Consolidated

A number of institutional investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its stake in shares of Coca-Cola Consolidated by 320.8% during the third quarter. Envestnet Asset Management Inc. now owns 82,171 shares of the company’s stock worth $9,627,000 after purchasing an additional 62,645 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Coca-Cola Consolidated by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 244,805 shares of the company’s stock worth $28,681,000 after purchasing an additional 24,278 shares in the last quarter. Natixis Advisors LLC lifted its stake in shares of Coca-Cola Consolidated by 122.1% during the third quarter. Natixis Advisors LLC now owns 107,106 shares of the company’s stock worth $12,548,000 after purchasing an additional 58,890 shares in the last quarter. HighTower Advisors LLC lifted its stake in shares of Coca-Cola Consolidated by 76.8% during the third quarter. HighTower Advisors LLC now owns 18,039 shares of the company’s stock worth $2,114,000 after purchasing an additional 7,834 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of Coca-Cola Consolidated by 119.3% during the third quarter. First Trust Advisors LP now owns 1,433,570 shares of the company’s stock worth $167,957,000 after purchasing an additional 779,915 shares in the last quarter. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Company 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.