Coca-Cola Consolidated (NASDAQ:COKE) Hits New 1-Year High – Here’s What Happened

Coca-Cola Consolidated, Inc. (NASDAQ:COKE)’s share price hit a new 52-week high during mid-day trading on Thursday. The stock traded as high as $219.99 and last traded at $216.43, with a volume of 125,037 shares. The stock had previously closed at $204.18.

Analyst Ratings Changes

Several equities research analysts have recently commented on COKE shares. Weiss Ratings upgraded shares of Coca-Cola Consolidated from a “buy (b)” rating to a “buy (b+)” rating in a research report on Friday, October 16th. Wall Street Zen cut Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, the company presently has an average rating of “Buy”.

Coca-Cola Consolidated Trading Up 5.3%

The firm has a fifty day simple moving average of $197.89 and a 200-day simple moving average of $187.24. The stock has a market cap of $14.31 billion, a price-to-earnings ratio of 28.35 and a beta of 0.56.

Coca-Cola Consolidated (NASDAQ:COKE) last announced its earnings results on Wednesday, November 4th. The company reported $2.63 earnings per share (EPS) for the quarter. Coca-Cola Consolidated had a net margin of 7.15% and a negative return on equity of 1,041.59%. The company had revenue of $1.99 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 6th. Investors of record on Friday, October 23rd will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, October 23rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. Coca-Cola Consolidated’s payout ratio is 13.26%.

Institutional Trading of Coca-Cola Consolidated

Institutional investors have recently made changes to their positions in the company. Illinois Municipal Retirement Fund lifted its stake in shares of Coca-Cola Consolidated by 19.5% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 43,776 shares of the company’s stock worth $8,285,000 after acquiring an additional 7,147 shares during the period. Triton Wealth Management PLLC purchased a new stake in shares of Coca-Cola Consolidated in the 3rd quarter valued at approximately $206,000. Csenge Advisory Group lifted its position in Coca-Cola Consolidated by 2.5% during the 3rd quarter. Csenge Advisory Group now owns 2,061 shares of the company’s stock worth $390,000 after acquiring an additional 50 shares during the last quarter. D Orazio & Associates Inc. boosted its holdings in Coca-Cola Consolidated by 18.7% during the third quarter. D Orazio & Associates Inc. now owns 1,760 shares of the company’s stock worth $333,000 after buying an additional 277 shares during the last quarter. Finally, AlphaCore Capital LLC acquired a new stake in Coca-Cola Consolidated during the 3rd quarter worth approximately $292,000. Hedge funds and other institutional investors own 48.24% of the company’s stock.

Coca-Cola Consolidated Company Profile

Coca-Cola Consolidated, Inc is the largest Coca-Cola bottler in the United States. Based in Charlotte, North Carolina, the company produces, sells, markets and distributes a broad portfolio of nonalcoholic beverages for The Coca-Cola Company and other brand owners.

Its products include Coca-Cola, Diet Coke, Coca-Cola Zero Sugar, Sprite, Fanta, DASANI, smartwater, POWERADE, Minute Maid and fairlife, along with other soft drinks, water, sports drinks, juices, dairy beverages and emerging beverage brands.