Coca-Cola Consolidated (NASDAQ:COKE) Releases Quarterly Earnings Results

Coca-Cola Consolidated (NASDAQ:COKE) issued its earnings results on Wednesday. The company reported $2.83 earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $2.05 billion during the quarter. Coca-Cola Consolidated had a return on equity of 138.44% and a net margin of 7.72%.

Coca-Cola Consolidated Stock Performance

Shares of NASDAQ COKE traded up $3.59 during mid-day trading on Wednesday, hitting $184.59. 663,725 shares of the stock were exchanged, compared to its average volume of 525,099. Coca-Cola Consolidated has a twelve month low of $110.60 and a twelve month high of $219.65. The stock’s fifty day simple moving average is $182.78 and its two-hundred day simple moving average is $182.66. The company has a market cap of $12.29 billion, a P/E ratio of 25.25 and a beta of 0.55.

Coca-Cola Consolidated Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Stockholders 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 annualized dividend and a dividend yield of 0.5%. Coca-Cola Consolidated’s dividend payout ratio (DPR) is presently 13.68%.

Institutional Investors Weigh In On Coca-Cola Consolidated

Large investors have recently bought and sold shares of the business. Bessemer Group Inc. raised its position in Coca-Cola Consolidated by 19.1% in the 1st quarter. Bessemer Group Inc. now owns 331 shares of the company’s stock valued at $63,000 after purchasing an additional 53 shares during the last quarter. Beacon Pointe Advisors LLC grew its holdings in shares of Coca-Cola Consolidated by 2.6% during the fourth quarter. Beacon Pointe Advisors LLC now owns 2,842 shares of the company’s stock worth $436,000 after purchasing an additional 72 shares during the last quarter. Wealthfront Advisers LLC increased its stake in shares of Coca-Cola Consolidated by 4.1% in the first quarter. Wealthfront Advisers LLC now owns 1,869 shares of the company’s stock valued at $358,000 after buying an additional 73 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Coca-Cola Consolidated by 8.9% in the fourth quarter. UMB Bank n.a. now owns 951 shares of the company’s stock valued at $146,000 after buying an additional 78 shares in the last quarter. Finally, Private Advisor Group LLC raised its holdings in shares of Coca-Cola Consolidated by 2.2% in the third quarter. Private Advisor Group LLC now owns 4,297 shares of the company’s stock valued at $503,000 after buying an additional 94 shares during the last quarter. 48.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

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.